Postdating an instrument would cause the instrument to be non negotiable
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- Which of the following would be a bearer instrument? a. A check payable...
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The would be cause instrument negotiable non an instrument Postdating to Petitioner Sesbreno made a money market placement in the amount of P, with the Philippine Underwriters Finance Corporation PhilFinance , with a term of 32 days. The checks were dishonored for having been drawn against insufficient funds. Pilipinas Bank never released the note, nor any instrument related thereto, to Sesbreno; but Sesbreno learned that the security which was issued on April 10, , maturing on 6 April , has a face value of P2,, As Sesbreno was unable to collect his investment and interest thereon, he filed an action for damages against Delta Motors and Pilipinas Bank. Delta Motors contents that said promissory note was not intended to be negotiated or otherwise transferred by Philfinance as manifested by the word "non-negotiable" stamped across the face of the Note. Whether the non-negotiability of a promissory note prevents its assignment. A negotiable instrument, instead of being negotiated, may also be assigned or transferred.
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