€13.03.

Give the effects of each of the following: a)

Incomplete, but delivered instrument; b) Complete,
but undelivered instrument; and c) Incomplete
undelivered instrument
a)
Incomplete but Delivered. Where the instrument
is wanting in any material particular the person
in possession thereof, is prima facie presumed
authorized to complete it.
(1)
A signature on a blank paper delivered by
the person making the signature in order
that it may be converted into a negotiable
instrument operates as prim face authority
to fill it up as such for any amount.
(2)
In both cases, however, the instrument must
be filled up strictly in accordance with the
authority given and within a reasonable
time in order that it may be enforced against
any person who became a party thereto
prior to its completion. However, persons
negotiating after its completion are liable
because of their warranties.
(3)
(4)
A holder in due course may enforce the
instrument as if it had been filled up strictly
in accordance with the authority given and
within a reasonable time (Sec. 14, NIL) (1993,
1997, 2004, 2005, and 2006 Bar).
Hence, it is no defense in an action to
enforce a negotiable promissory note that it
was signed in blank as Section 14 of the NIL
concedes prima face authority of the person
in possession of negotiable instruments to
fill in the blanks (Quirino Gonzalez Logging
Concessionaire, et al. v. CA, G.R. No. 126568
April 30, 2003)
(5)
Where corporate check is incomplete be-
cause it lacks the name of the payee but
the officer or secretary of the drawer cor-
portion was the one that completed it by