1. Sec. 184. Promissory note, defined.

- A negotiable promissory note within the meaning of this

Act is an unconditional promise in writing made by one person to another, signed by the maker,
engaging to pay on demand, or at a fixed or determinable future time, a sum certain in money to
order or to bearer. Where a note is drawn to the maker's own order, it is not
complete until indorsed by him.
Why is there a need to indorse it?
The maker and the payee= SAME PERSON
-Sec 1 par b: UNCONDITIONAL PROMISE
The promise to yourself is not real and is not the “promise” contemplated by law
What is the instrument in the last sentence?
-payable to order (kasi pag ang payable to order kailangan ng indorsement and delivery
pero ang payable to bearer, delivery lang)

2. What contract is contemplated when a person draws a check?

-Simple loan; creditor debtor relationship

3. MANAGER’S CHECK- Drawee and drawer= SAME PERSON

Reason why DRAWEE is primarily liable:

a. It is a Bill of exchange and so once it is issued, it is accepted

b. Can treat it as a promissory note where the drawee becomes the maker (maker ang
primarily liable sa poromissory note)

4. Indorsers- persons who transfer or negotiate an instrument by indorsement completed by delivery

What is the instrument contemplated here?

-Payable to order (kasi diba pag payable to order, it is negotiated by indorsement coupled with
delivery)

5. Sec 1 par (e) Where the instrument is addressed to a drawee, he must be named or
otherwise indicated therein with reasonable certainty.

Bakit kailangan?

-Beacuse drawee is being ordered to pay