Dates, Delivery, Consideration

AT TY. DESIREE VON D. ENRIQUEZ

DATES
• PRESUMPTION: Section 11 of NIL
• The lack of date in an instrument will not render it invalid or non-
negotiable (Section 6[a])
• If the instrument contains a date, that date is presumed to be the
date when it was made, drawn, accepted, or indorsed
• ANTE-DATING or POST-DATING: Section 12 of NIL
• Ante-date
• Post-date
DATES
• When date may be inserted: Section 13 of NIL
WHAT: undated instrument
WHEN: (a) instrument is expressed to be payable at a fixed period
after date is issued; (b) the acceptance of an instrument payable at
a fixed period after sight
→any holder may insert the true date of issue or
acceptance, and the instrument shall be payable
accordingly.
DATES
→Insertion of a wrong date does not avoid the
instrument in the hands of a holder in due course,
as to him, the date so inserted is to be regarded
as the true date.
HOLDER IN DUE COURSE (Section 52)- COFI
C- That is complete and regular upon its face
O- That he became the holder of it before it was overdue,
and without notice that it had been previously dishonoured,
if such was the fact
F- That he took it in good faith and for value
I- That at the time it was negotiated to him, he had no
notice of any infirmity in the instrument or defect in the
title of the person negotiating it