2) ° It must be made at a reasonable hour on a

business day on the proper date;

navig ed satim TO 3)
,.eldsil vlas
Presentment must be at the proper place;
4)
13 1-57010
Presentment must be to the person primarily
30
SPUM
liable on the instrument, or if he is absent
or inaccessible, to any person found at the
place where the presentment is made; and
5)
The person entitled to present the instru-
ment for payment must exhibit the instru-
ment to the person from whom the payment
is demanded and upon payment must be
delivered to the person paying it (2002 Bar).
If the instrument is not surrendered and
cancelled, there is a danger that it may fall in
the hands of other persons who might claim
VISE
rights over the instrument.
esh ar atarito
99wstb ant is
Note: If the place of payment is designated
and the maker is ready and present in the specified
place on maturity date, the payee can still recover
the face value or principal of the note but he can
no longer recover interest and cost of collection
(2000 Bar).
ain TO
PROBLEM:
1.
Hora
sidsno:
TO 22040
Gemma drew a check on September 13, 1990. The holder presented
the check to the drawee bank only on March 5, 1994. The bank
dishonored the check on the same date. After the dishonor by
the drawee bank, the holder gave a formal notice of dishonor to
Gemma through a letter dated April 27, 1994. (a) What is meant
by
"unreasonable time" as applied to presentment? (b) Is Gemma
liable to the holder?
A:
(a)
betonorate
The concept of what is reasonable is relative.
"Reasonable
time" has been defined as so much time as is necessary under
the circumstances for a reasonable, prudent and diligent
man to do, conveniently, what the contract or duty requires
should be done, having a regard for the rights and possibility
of loss, if any, to the other party (Far Realty Investment, Inc. v.
CA, G.R. No. L-36549, October 5, 1998).
10 tebler
ICente50 91/10*
However, with respect to checks, the Supreme Court
had taken cognizance of the current banking practice that
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