STUDY

GUIDE
INSTRUMENTS
Act 2031 (1911)

ON

THE

NEGOTIABLE
LAW*

DEFINITIONS
1.1 Acceptance (Sec. 132) Acceptance; how made, by

and so forth. - The acceptance of a bill is the

signification by the drawee of his assent to the
order of the drawer. The acceptance must be in
writing and signed by the drawee. It must not
express that the drawee will perform his promise
by any other means than the payment of money.
1.2 Allonge (Sec. 31) Indorsement; how made. - The
indorsement must be written on the instrument itself
or upon a paper attached thereto. The signature
of the indorser, without additional words, is a
sufficient indorsement.
1.3 Bearer (Sec. 191) means the person in possession

of a bill or note which is payable to bearer;

1.4 Bill of exchange (Sec. 126) defined. - A bill of

exchange is 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.
1.5 Check (Sec. 185) defined. - A check is a bill of
exchange drawn on a bank payable on demand.

PreparedbyProf.TristanA.CatindigasofJuly29,2008.Allrightsreserved.

Except as herein otherwise provided, the provisions of

this Act applicable to a bill of exchange payable on
demand apply to a check.
1.6 Delivery (Sec. 191) means transfer of possession,
actual or constructive, from one person to another;
1.7 Forgery (Alvendia, p. 47)
1.8 Holder (Sec. 191) means the payee or indorsee of a
bill or note who is in possession of it, or the bearer
thereof;
1.9 Indorser
1.10 Inland bill of exchange (Sec. 129) An inland bill of
exchange is a bill which is, or on its face purports to
be, both drawn and payable within the Philippines.
Any other bill is a foreign bill. Unless the contrary
appears on the face of the bill, the holder may treat it
as an inland bill.
1.11 Issue (Sec. 191) means the first delivery of the
instrument, complete in form, to a person who takes it
as a holder;
1.12 Person primarily liable on instrument (Sec. 192)
includes a body of persons, whether incorporated or
not;
1.13 Presentment
1.14 Procuration (Alvendia, p. 44)
1.15 Promissory note (Sec. 184)
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A negotiable promissory note within the meaning of

this Act is an unconditional promise in writing made
by one person to another, signed by the maker,
engaging to pay on demand, or at a fixed or
determinable future time, a sum certain in money to
order or to bearer. Where a note is drawn to the
maker's own order, it is not complete until indorsed by
him.
1.16 Referee in case of need (Sec. 131) The drawer of a bill
and any indorser may insert thereon the name of a
person to whom the holder may resort in case of
need; that is to say, in case the bill is dishonored by
non-acceptance or non-payment. Such person is
called a referee in case of need. It is in the option of
the holder to resort to the referee in case of need or
not as he may see fit.
1.17 Value (Sec. 25) Value is any consideration sufficient to
support a simple contract. An antecedent or preexisting debt constitutes value; and is deemed such
whether the instrument is payable on demand or at a
future time.

1.20 A party for value (Sec. 24) and every person whose
signature appears thereon to have become a party
thereto for value.
1.21 Time of indorsement (Sec. 45) Except where an
indorsement bears date after the maturity of the
instrument,
every
negotiation is deemed prima facie to have been
effected
before
the
instrument was overdue.
1.22 Place of indorsement (Sec. 46) Except where the
contrary appears, every indorsement is presumed
prima facie to have been made at the place where the
instrument is dated. Holder in due course (Sec. 59)
Every holder is deemed prima facie to be a holder in
due course; but when it is shown that the title of any
person who has negotiated the instrument was
defective, the burden is on the holder to prove that he
or some person under whom he claims acquired the
title as holder in due course. But the last-mentioned
rule does not apply in favor of a party who became
bound on the instrument prior to the acquisition of
such defective title.

SOME PRESUMPTIONS UNDER THE NIL

1.18 Date of instrument (Sec. 17)
(c) Where the
instrument is not dated, it will be considered to be
dated as of the time it was issued;
1.19 Consideration for issuance of instrument (Sec. 24)
Every negotiable instrument is deemed prima facie to
have been issued for a valuable consideration;

FORMS
1.23 Distinguish: a negotiable instrument from a nonnegotiable instrument (Alvendia, pp. C-D)
1.24 Examples of negotiable as well as non-negotiable
documents and instruments
1.25 Distinguish: a promissory note from a bill of exchange
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(ii)
1.26 When may a bill be treated as a promissory note (Sec.
130) Where in a bill the drawer and drawee are the
same person or where the drawee is a fictitious
person or a person not having capacity to contract,
the holder may treat the instrument at his option
either as a bill of exchange or as a promissory note

(b)

1.27 Requisites of negotiability

(a)

certainty of sum (Sec. 2) The sum payable is a

sum certain within the meaning of this Act,
although it is to be paid:
(i)

with interest; or

Promissory Note (Sec. 1)

(ii)

by stated installments; or

(i)

It must be in writing and signed by the

maker

(iii)

(ii)

Must contain an unconditional promise or

order to pay a sum certain in money;

by stated installments, with a provision

that, upon default in payment of any
installment or of interest, the whole shall
become due; or

(iii)

Must be payable on demand, or at a fixed

or determinable future time;

(iv)

with exchange, whether at a fixed rate or

at the current rate; or

(v)

with costs of collection or an attorney's

fee, in case payment shall not be made at
maturity.

(iv)
(v)

(b)

Must be payable to order or to bearer;

Where the instrument is addressed to a
drawee, he must be named or otherwise
indicated therein with reasonable certainty.

Bill of Exchange (Sec. 1) (same as above)

(c)

in money
(i)

The instrument must be capable of being

transformed into money, since negotiable
instruments are intended to be substitutes
for
money

(ii)

Money as used in the law is not

necessarily
limited to legal tender as defined by law
but
includes any particular kind of current
money.
[see, Sec. 6(e), NIL and PNB v. Zulueta]

1.28 Meaning of particular requisites

(a)

A statement of the transaction which gives

rise to the instrument. But an order or
promise to pay out of a particular fund is
not unconditional

unconditional promise or order (Sec. 3) An

unqualified order or promise to pay is
unconditional within the meaning of this Act
though coupled with:
(i)

An indication of a particular fund out of

which reimbursement is to be made or a
particular account to be debited with the
amount; or

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(iii)
(d)

(e)

An agreement to pay in foreign currency is

valid. [RA 8183]

(ii)

When it is payable to a person named

therein or bearer; or

payable on demand (Sec. 7) An instrument is

payable on demand:

(iii)

When it is payable to the order of a

fictitious or non-existing person, and such
fact was known to the person making it so
payable; or

(iv)

When the name of the payee does not

purport to be the name of any person; or

(v)

When the only or last indorsement is an

indorsement in blank

(i)

When it is so expressed to be payable on

demand, or at sight, or on presentation; or

(ii)

In which no time for payment is

expressed. Where an instrument is issued,
accepted, or indorsed when overdue, it is,
as regards the person so issuing, accepting,
or indorsing it, payable on demand.

determinable future time (Sec. 4)

(i)

At a fixed period after date or sight; or

(ii)

On or before a fixed or determinable

future time specified therein; or

(iii)

On or at a fixed period after the

occurrence of a specified event which is
certain to happen, though the time of
happening be uncertain.

An
instrument
payable
upon
a
contingency is not negotiable, and the
happening of the event does not cure
the defect.
(f)

payable to order (Sec. 8) The instrument is

payable to order where it is drawn payable to the
order of a specified person or to him or his order.

(g)

payable to bearer (Sec. 9)

(i)

When it is expressed to be so payable; or

(h)

rule as to dates (Sec. 11; Sec. 13; Sec. 17(b); Sec

12)
Sec. 11. Date, presumption as to. - Where the
instrument or an acceptance or any indorsement
thereon is dated, such date is deemed prima
facie to be the true date of the making, drawing,
acceptance, or indorsement, as the case may be.
Sec. 13. When date may be inserted. - Where
an
instrument
expressed to be payable at a fixed period after
date
is
issued
undated, or where the acceptance of an
instrument payable at a fixed period after sight
is undated, any holder may insert therein the
true date of issue or acceptance, and the
instrument shall be payable accordingly. The
insertion of a wrong date does not avoid the
instrument in the hands of a subsequent holder
in due course; but as to him, the date so inserted
is to be regarded as the true date.

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Sec. 17 (b) Where the instrument provides for

the payment of interest, without specifying the
date from which interest is to run, the interest
runs from the date of the instrument, and if the
instrument is undated, from the issue thereof;
Sec. 12. Ante-dated and post-dated. - The
instrument is not invalid for the reason only that
it is ante-dated or post-dated, provided this is
not done for an illegal or fraudulent purpose. The
person to whom an instrument so dated is
delivered acquires the title thereto as of the date
of delivery.
1.29 Omissions not affecting negotiability (Sec. 6)
Omissions; seal; particular money. - The validity and
negotiable character of an instrument are not affected
by the fact that:
(a)

it is not dated; or

(b)

does not specify the value given, or that any

value had been given therefor; or

(c)

does not specify the place where it is drawn or

the
place
where it is payable; or

(d)

bears a seal; or

(e)

designates a particular kind of current money in

which
payment is to be made.
But nothing in this section shall alter or
repeal any statute requiring in certain
cases the nature of the consideration to be
stated in the instrument

1.30 Rules of construction (Sec. 17)

(a)

Where the sum payable is expressed in words

and also in figures and there is a discrepancy
between the two, the sum denoted by the words
is the sum payable; but if the words are
ambiguous or uncertain, reference may be had
to the figures to fix the amount;

(b)

Where the instrument provides for the payment

of interest, without specifying the date from
which interest is to run, the interest runs from
the date of the instrument, and if the instrument
is undated, from the issue thereof;

(c)

Where the instrument is not dated, it will be

considered to be dated as of the time it was
issued;

(d)

Where there is a conflict between the written

and printed provisions of the instrument, the
written provisions prevail;

(e)

Where the instrument is so ambiguous that there

is doubt whether it is a bill or note, the holder
may treat it as either at his election;

(f)

Where a signature is so placed upon the

instrument that it is not clear in what capacity
the person making the same intended to sign, he
is to be deemed an indorser;

(g)

Where an instrument containing the word "I

promise to pay" is signed by two or more
persons, they are deemed to be jointly and
severally liable thereon.

1.31 Cases:
(a)

Caltex (Philippines), Inc. vs. CA, et al., G.R.

97753, August 10, 1992;
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(b)

Metropolitan Bank & Trust Co. vs. CA, et al., G.R.

88866, February 18, 1991;

(c)

Development Bank of Rizal vs. Sima Wei, et al.,

G.R. 85419, March 9, 1993.

RULES
FOR
ABNORMAL
NEGOTIABLE INSTRUMENTS

OR

DEFICIENT

1.32 Incomplete but delivered negotiable instrument (Sec.

14)
Blanks; when may be filled. - Where the instrument is
wanting in any material particular, the person in
possession thereof has a prima facie authority to
complete it by filling up the blanks therein. And a
signature on a blank paper delivered by the person
making the signature in order that the paper may be
converted into a negotiable instrument operates as a
prima facie authority to fill it up as such for any
amount. In order, however, that any such instrument
when completed may be enforced against any person
who became a party thereto prior to its completion, it
must be filled up strictly in accordance with the
authority given and within a reasonable time. But if
any such instrument, after completion, is negotiated
to a holder in due course, it is valid and effectual for
all purposes in his hands, and he may enforce it as if it
had been filled up strictly in accordance with the
authority given and within a reasonable time.
1.33 Complete but undelivered negotiable instrument (Sec
16)
Delivery; when effectual; when presumed. - Every
contract on a negotiable instrument is incomplete and

revocable until delivery of the instrument for the

purpose of giving effect thereto. As between
immediate parties and as regards a remote party
other than a holder in due course, the delivery, in
order to be effectual, must be made
1.34 Incomplete and undelivered negotiable instrument
(Sec. 15)
Where an incomplete instrument has not been
delivered, it will not, if completed and negotiated
without authority, be a valid contract in the hands of
any holder, as against any person whose signature
was placed thereon before delivery.
1.35 Absence or failure
consideration

of

consideration

or

illegal

(a)

Absence of consideration defined

(b)

Failure of consideration defined

(c)

Effect of illegal consideration (Pineda vs. dela

Rama, 121 SCRA 671)

(d)

Effect of absence or failure of consideration (Sec.

28)

(e)

Exception to effects of absence of consideration:

Accommodation
(i)

Accommodation party defined (Sec. 29)

(ii)

Liability of an accommodation party (Sec.

29)

1.36 Cases:
(a)

Travel-on, Inc. vs. CA, et al., G.R. 56169, June 26,

1992;

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(b)

Prudencio, et al. vs. CA, et al., G.R. L-34539, July

14, 1986;

(c)

Crisologo-Jose vs. CA,

September 15, 1989.

et

al.,

G.R.

80599,

1.37 Forgery of signature (Sec. 23)

(a)

Defined (Sec. 125)

(b)

Effect (Sec. 124)

(c)

Effect of negligence of drawer of check (Campos,

p. 416)

(d)

Effect of drawees payment or acceptance of

altered check (Campos, p. 435)

(a)

Defined

(b)

Effects

(c)

Parties precluded to use the defense of forgery

N E GO T I AT I ON

(d)

Forgery in checks (Campos, p. 268-404)

1.40 Negotiation defined (Sec. 30)

(i)

When the drawee accepts or pays a

forged instrument

1.41 Negotiation vs. Assignment or Transfer

(ii)

Payment of drawee bank despite stop

payment order of drawer

(iii)

Effect of negligence of depositor

(iv)

Effect
of
indorsements

payment

under

forged

(v)

Effect of negligence of drawee in

informing recipient of forgery

(vi)

Effect of negligence of drawer in case of

forged indorsements

1.38 Cases:
(a)

Republic Bank vs. Ebrada, G.R. L-40796, July 31,

1975;

(b)

Jai-Alai vs. BPI, G.R. L-29432, August 6, 1975;

(c)

Westmont Bank vs. Ong, G.R. No. 132560,

January 30, 2002.

1.42 Case: Sesbreo vs. CA, et al., G.R. 89252, May 24,
1993.
1.43 Rights transferred by negotiation (Campos, p. 69)
1.44 Methods of negotiation:
(a)

By delivery of the Instrument

instruments payable to bearer)

(b)

By indorsement followed by
instruments payable to order)
(i)

alone

(for

delivery

(for

How indorsement made (Sec. 31)

(ii)

Indorsement where name is misspelled

(Sec. 43)

(iii)

Indorsement must be of entire instrument

(Sec. 32)

(iv)
(v)

Indorsement by agent (Sec. 44)

Indorsement to a Cashier (Sec. 42)

1.39 Material alteration of the Instrument

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(vi)

Kinds of indorsements (Secs. 33, 34, 36,

38,39,41,64)

(vii)

Effect of indorsement on instrument

negotiable by delivery (Sec. 40)

(viii)

Effect of lack of indorsement on an

instrument negotiable by indorsement (Sec.
49)

(ix)
(x)

Striking out of indorsements (Sec. 48)

Continuation of negotiable character
(Sec. 47)

(e)

Payee as holder in due course

1.46 Cases:
(a)

Stelco Marketing vs. CA, et al., G.R. 96160, June

17, 1992;

(b)

Atrium Management vs. CA, et al., G,R, 109491,

February 28, 2001.

1.47 Defenses against the holder

(a)

Real or absolute
(i)
(ii)

RIGHTS OF A HOLDER
1.45 Holder in due course
(a)

(b)

(i)
(ii)

Complete and regular (Sec. 124)

Holder for value and in good faith (Secs.

25, 26 and 27)

(iv)

No notice of infirmity in the instrument or

defect in the title of person negotiating
(Secs. 54, 55 and 56)

Complete, undelivered instrument

(Sec. 16)

(ii)

Incomplete, delivered instrument (Sec.

14)

Holder before or at maturity and

without notice of dishonor (Secs. 12 and 53)

(iii)

Incomplete, undelivered instrument

(Sec. 15)

Personal or equitable defenses

(i)

Requisites (Sec. 52)

Incapacity (Sec. 22)

(iii)

Lack of consideration (Sec. 28)

(iv)

Illegality

(v)
(c)

Duress

Sometimes real, sometimes personal;

(i)

Forgery (Sec. 23)

Material Alteration (Sec. 124)

(b)

Who is deemed a holder in due course (Sec. 59)

(ii)

(c)

Rights of a Holder in due course(Secs. 51 and

57)

(iii)

(d)

Rights of a purchaser from a Holder in due

course (Sec. 58)

Fraud

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PRESENTMENT
OF EXCHANGE

FOR

A CC E P TAN C E

IN

BILLS

1.48 When required (Sec. 143)

1.49 Effect of non- presentment when required (Sec. 144)
1.50 How made (Sec. 145)
1.51 When made (Sec. 146)

P R E S E N T M E N T F O R P AY M E N T
1.63 In Promissory Notes
(a)

Purpose (Sec. 70)

(b)

Requisites (Secs. 72, 73 and 74)

(c)

When excused (Secs. 80 and 82)

(d)

When instrument considered dishonored (Sec.

83)

1.52 When time is insufficient (Sec. 147)

1.53 When excused (Sec. 148)

1.64 In Bills of Exchange

1.54 Dishonor by non-acceptance (Sec. 149)

(a)

When necessary (Sec. 70)

1.55 Duty of holder where bill not accepted (Sec. 150)

(b)

When not necessary (Secs. 79, 80, 111 and 151)

1.56 Rights of holder where bill not accepted (Sec. 151)

(c)

When excused (Secs. 82)

1.57 Effect of omission to give notice of non-acceptance

(Sec. 117)

(d)

Requisites (Secs. 71, 72, 73,74)

1.65 Date and time of presentment (Secs. 85, 86, 194)

1.66 Manner of presentment when::

A C C EP TA N C E IN B I L L S O F E XC H A N G E

(a)

Instrument payable at bank (Sec. 75)

1.58 Defined (Sec. 132)

(b)

Principal debtor is dead (Sec. 76)

1.59 Requisites for validity (Sec. 132)

(c)

Persons liable as partners (Sec. 77)

1.60 How made (Secs 133, 134, 135 and 136)

(d)

There are joint debtors (Sec. 78)

1.61 Kinds of acceptance

(a)

General (Secs. 139 and 140) and qualified (Secs.

139 and 141)

(b)

Actual (Sec. 132) and constructive (Sec. 137)

1.62 Rights of the parties as to qualified acceptance (Sec.

142)

1.67 Dishonor by non-payment and its effects (Secs. 83

and 84)
NOTICE OF DISHONOR
1.68 When necessary and to whom given (Sec. 89)
1.69 Form and contents of notice (Secs. 95 and 96)

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1.70 Time within which notice must be given (Secs 102,

103, 104, 105, 106, 107 and 113)

(a)

Defined (Sec. 129)

(b)

Importance of determining whether a bill of

exchange is an inland bill or a foreign bill

1.71 Place where notice must be given (Sec. 108)

1.72 By whom notice may be given (Secs. 90 and 91)
1.73 To whom notice must be given

1.79 Protest Defined

(a)

When necessary (Sec. 152)

(a)

In general (Sec. 97)

(b)

How made (Sec. 153)

(b)

If given by agent (Sec. 94)

(c)

By whom made (Sec. 154)

(c)

If party is dead (Sec. 98)

(d)

When made (Sec. 155)

(d)

To partners (Sec. 99)

(e)

Where made (Sec 156)

(e)

To joint parties (Sec 100)

(f)

Waiver of protest (Sec.111)

(f)

To bankrupt (Sec. 101)

(g)

Protest both for non-acceptance

payment (Sec. 157)

(h)

Protest for better security (Sec. 158)

(i)

When delay is excused and protest dispensed

with (Sec. 159)

(j)

Protest where bill is lost (Sec. 160)

1.74 In whose favor notice operates (Secs 92 and 93)

1.75 When rule requiring notice not applied
(a)

In general (Sec 112)

(b)

When notice of non-acceptance already given

(Sec. 116)

(c)

Waiver (Sec. 109 and 110)

1.76 When not necessary to charge:

(a)

Drawer (Sec. 114)

(b)

Indorser (Sec. 115)

1.77 Effect of failure to give notice (Secs. 89 and 117)

FOREIGN BILLS
1.78 Foreign Bill

and

non-

1.80 Distinguish: protest from notice of dishonor (Secs. 89,

91, 96, 102, 103, 118, 152-156):
1.81 Acceptance for honor (acceptance supra protest)
(a)

Defined (Alvendia, p. 214)

(b)

Purpose

(c)

Requisites (Sec. 161)

(d)

Effects (Sec. 164)

1.82 Payment for honor (payment supra protest)

(a)

Defined

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(b)

Purpose (Alvendia, p. 222)

(b)

Intentional cancellation of signature of holder

(Secs. 123 and 48)

(c)

Requisites (Secs 161, 172)

(d)

Effects (Sec. 175)

(c)

Discharge of a prior party

(e)

Preference of parties offering to pay for honor

(Sec. 174)

(d)

Valid tender of payment by a prior party

(e)

Release of the principal debtor

1.83 Distinguish an acceptance for honor from a payment

for honor (Secs. 161, 171 and 176):

(f)

Extension of time of payment

(g)

Renunciation by holder before, at or after its

maturity (Sec. 122)

DISCHARGE OF INSTRUMENT

(h)

Taking a qualified acceptance unless drawer and

indorsers have expressly or impliedly authorized
the holder to take a qualified acceptance or
subsequently assent thereto (sec.142)

(i)

Failure to make due presentment when required

(Secs. 70, 144)

(j)

Failure to give notice of dishonor (Sec.89)

(k)

Certification of check at instance of holder (Sec.

188)

1.84 Causes for discharge of the instrument and discharge

of all parties (Sec. 119)
(a)

Payment in due course by debtor

(i)

What constitutes payment in due course

(Sec. 88)

(b)

Payment in due course by the accommodated

party

(c)

Intentional cancellation by the holder

(i)

Unintentional cancellation; burden of proof

(Sec. 123)

(d)

Any other act which will discharge a simple

contract for the payment of money

(e)

Debtor becomes the holder of the instrument at

or after maturity in his own right

(f)

Renunciation by holder at or after maturity (Sec.

122)

1.85 Causes for discharge of secondary parties (Sec. 120)

(a)

Any act which discharges the instrument

1.86 Right of a party secondarily liable on an instrument

who discharges the same (Sec. 121)
1.87 Case: State Investment House. vs. CA and Nora B.
Moulic, G.R. 101163, January 11, 1993.
LIABILITIES OF PARTIES
1.88 Parties primarily liable
(a)

Maker (Sec. 60)

(b)

Acceptor or the drawee

instrument (Sec. 62)

who

accepts

the

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1.89 Parties secondarily liable

(a)

The Drawer (Sec. 61)

(b)

The General Indorser (Sec. 66)

(c)

The Irregular Indorser (Sec. 64)

1.90 Parties with limited liability

(a)

The Qualified Indorser (Sec. 65)

(b)

Person negotiating by delivery

1.91 When secondary liability attaches

(a)

Acts needed before secondary liability attaches

(b)

Order in which Indorsers are liable (Sec. 68)

1.92 Parties signing in accommodation (Sec. 29)

1.93 Parties signing as agent (Secs. 19, 20, 21 and 69)
1.94 Parties signing under a trade or assumed name (Sec.
18)

1.99 Differentiated from an ordinary Bill of Exchange

(Campos, p. 546)
1.100 Stop payment order by drawer (Campos, p. 328-329)
1.101 Certification Sec. 187)
(a)

Certified check defined (Alvendia, p. 251)

(b)

Effect of certification (Secs. 187, 188 and 189)

1.102 Kinds of checks

(a)

Stale check. (Alvendia, p. 250)

(b)

Travelers check (Alvendia, p. 243-244)

(c)

Cashiers or managers check (Alvendia, p. 243)

(d)

Memorandum check (People v. Nitafan, G.R. L7594, Oct. 22, 1992; 215 SCRA 79)

1.103 Check used as payment of obligation

1.104 Crossed Checks (Bataan Cigar and Cigarette Factory,
Inc. vs. CA, et al., G.R. 93048, March 3, 1994; 230
SCRA 643)

BILLS IN A SET

(a)

Defined

1.95 Defined (Sec. 178)

(b)

How made

1.96 Purpose of drawing bills in a set (Alvendia, p. 225)

(c)

Effects

1.97 Effect of payment of one part of a bill drawn in a set

(Secs. 180 and 183)

1.105 Cases:
(a)

Papa vs. A.U. Valencia, et al., G.R. 105188,

January 23, 1998.

CHECKS

(b)

1.98 Defined; characteristics (Secs. 185, 186, 188, Sec. 60,

RA 7653)

Firestone Tire vs. CA, et al., G.R. 113236, March

5, 2001.

(c)

BPI vs. CA, et al., G.R. 112392, February 29,

2000.
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(d)

International Corporate Bank vs. Spouses Gueco,

G.R. 141968, February 12, 2001.

(e)

State Investment House vs. IAC, et al., G.R.

72764, July 13, 1989;

(f)

Bataan Cigar and Cigarette Factory vs. CA, et al.,

G.R. 93048, March 3, 1994.

-o-

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