RIGHTS OF THE HOLDER of Negotiable Instruments
Category: Law on Negotiable Instruments
RIGHTS OF THE HOLDER
Sec. 51. Right of holder to sue; payment. - The holder of a negotiable instrument may to sue thereon in his own name; and payment to him in due course discharges the instrument.
RIGHTS OF A HOLDER IN GENERAL
1. He may sue on the instrument in his own name
2. He may receive payment and if the payment is in due course, the instrument is discharged
RIGHT TO SUE
• Holder of a negotiable instrument may sue on his own name, even if
he be a holder only for collection or as a pledge of the instrument
RIGHT OF TRANSFEREE OF UNINDORSED INSTRUMENT
• Such possessor may sue in his own name if his transferor could have done so
• Under Section 49, a transfer for value, but without indorsement, of an instrument is payable to order vests in the transferee such title as the transferor had therein.
EFFECT OF PAYMENT TO THE HOLDER
• The payment in due course to the holder of the instrument discharges the instrument
• It is in due course if it is made at or after the maturity of the
instrument; or to the holder thereof; in good faith and without notice
that his title is defective
Related Philippine Law Resources:
Newer Philippine Law Resources:
Additional Law Reading:
RIGHTS OF THE HOLDER of Negotiable Instruments
Category: Law on Negotiable Instruments
RIGHTS OF THE HOLDER
Sec. 51. Right of holder to sue; payment. - The holder of a negotiable instrument may to sue thereon in his own name; and payment to him in due course discharges the instrument.
RIGHTS OF A HOLDER IN GENERAL
1. He may sue on the instrument in his own name
2. He may receive payment and if the payment is in due course, the instrument is discharged
RIGHT TO SUE
• Holder of a negotiable instrument may sue on his own name, even if
he be a holder only for collection or as a pledge of the instrument
RIGHT OF TRANSFEREE OF UNINDORSED INSTRUMENT
• Such possessor may sue in his own name if his transferor could have done so
• Under Section 49, a transfer for value, but without indorsement, of an instrument is payable to order vests in the transferee such title as the transferor had therein.
EFFECT OF PAYMENT TO THE HOLDER
• The payment in due course to the holder of the instrument discharges the instrument
• It is in due course if it is made at or after the maturity of the
instrument; or to the holder thereof; in good faith and without notice
that his title is defective
Related Philippine Law Resources:
Newer Philippine Law Resources:
Additional Law Reading:
BATASnatin The Firm
Latest @ Forums
-
-
- Shema Corporation legal ba?
- In General Discussion
- 6 days, 14 hours ago
-
-
-
- foreclosed property, i need guides please help me
- In I Need A Lawyer!
- 2 weeks, 3 days ago
-
-
-
- i cant access even the demo
- In Law MCQuizzer
- 2 weeks, 3 days ago
-
Popular
- 1
- 2
- 3
SUGGESTED ANSWERS …
ANSWERS TO BAR EXAMINATION QUESTIONS IN POLITICAL LAW ARRANGED BY TOPIC (1990 – 2006) Edited and Arranged by:Silliman University College of Law Batch 2005Updated by:DondeeD’ BAR-Retake 2007 From the ANSWERS TO BAR EXAMINATION QUESTIONS by the UP LAW COMPLEX & PHILIPPINE ASSOCIATION OF LAW SCHO...
Read moreOral Defamation l S…
Kinds and Definition of Slander or Oral Defamation Definition: Speaking of base and defamatory words which tend to prejudice another in his reputation, office, trade, business or means of livelihood Two kinds of oral or verbal defamation: (1) Grave Slander (2) Simple Slander A. Factor...
Read moreArticle I – THE NAT…
Article I – THE NATIONAL TERRITORYThe national territory of the Philippines comprises:1) the Philippine archipelago;2) all other territories over which the Philippines has sovereignty or jurisdictionPHILIPPINE ARCHIPELAGO – that body of water studded with islands which is delineated in the Treaty of...
Read moreRandom
- 1
- 2
- 3
WHAT IS ADHERENCE O…
WHAT IS ADHERENCE OF JURISDICTION?> Once jurisdiction is vested in the court, it is retained up to the end of the litigation > Remains with the court until the case is finally terminated > Exception to the rule: when a newly enacted statute changing ...
Read moreRIGHT OF PLEDGEE TO…
RIGHT OF PLEDGEE TO COMPENSATE EARNINGS OF PLEDGE WITH DEBT > The pledgee has no right to use the thing pledged or to appropriate the fruits thereof without the authority of the owner > The pledgee can apply the fruits, income, ...
Read moreManner Of Payment I…
Manner Of Payment Is Essential In The Validity Of SaleBefore a valid and binding contract of sale can exist, the manner of payment of the purchase price must first be established, as such stands as essential to the validity of the sale. After all, su...
Read moreFeatured
- 1
- 2
- 3
Right to Strike
SSSEA v. CA – right to strike – At present, in the absence of any legislation in government employees the right to strike, recognizing their right to do so, or regulating the exercise of such right, they are prohibited form striking by express prohi...
Read morePeople vs. Tolentin…
G.R. No. 176385, February 26, 2008 FACTS: On 13 February 1998, three separate informations of Murder and two counts of Frustrated Murder were filed before the RTC against appellants, together with accused Jimmy Trinidad and Arnel Trinidad. The murd...
Read morePerfection Of A Con…
In Oesmer, Jr., et al. v. Paraiso Dev. Corp., G.R. No. 157493, February 5, 2007, a contract to sell was entered into by the owners of a real property. They affixed their signatures but contested its validity later contending that their co-owner had n...
Read more