Beruflich Dokumente
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Brief History of Negotiable Instruments Law The law on negotiable instruments was then embedded in the English common law and was codified in England in 1882 where it was known as the Bills of Exchange Act. In the United States, the codification of the Negotiable Instruments Law is found in the California Code of 1372. It was only in 1895 that the uniformity of these laws in the US was promoted at the request of the American bar Association. 2. History of Negotiable Instruments Law in the Philippines The Negotiable Instruments Law of the Philippines was patterned after the draft approved by the Commissioners on Uniform State Laws in the United States. It was enacted as Act No. 2031 on February 3, 1911 and took effect ninety days after its publication in the Official Gazette of the Philippine Islands. Which was on March 4, 1911, and therefore, the Act took effect on June 2, 1911.
b. bill of exchange an unconditional order in writing addressed by one person to another, signed by the
person giving it, requiring the person to whom it is addressed to pay on demand or at a fixed or determinable future time a sum certain in money to order or to bearer.