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Pablo Ocampo de León (January 25, 1853 – February 5, 1925) was a Filipino lawyer, nationalist, a member of the Malolos Congress, inaugural holder of the office of Resident Commissioner from the Philippine Islands to the United States Congress alongside Benito Legarda and a member of the 2nd Philippine Legislature.
In the Commonwealth of Nations almost all jurisdictions have codified the law relating to negotiable instruments in a Bills of Exchange Act, e.g. Bills of Exchange Act 1882 in the UK, Bills of Exchange Act 1890 in Canada, Bills of Exchange Act 1908 in New Zealand, Bills of Exchange Act 1909 in Australia, [2] the Negotiable Instruments Act, 1881 in India and the Bills of Exchange Act 1914 in ...
In commercial law, a holder in due course (HDC) is someone who takes a negotiable instrument in a value-for-value exchange without reason to doubt that the instrument will be paid. If the instrument is later found not to be payable as written, a holder in due course can enforce payment by the person who originated it and all previous holders ...
Created Date: 8/30/2012 4:52:52 PM
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It uses negotiable instruments as an example of formal contracts, such as: checks, drafts, promissory notes, and certificates of deposit. These examples are all required to have special formation under the Uniform Commercial Code. [3]
A cheque is a negotiable instrument instructing a financial institution to pay a specific amount of a specific currency from a specified transactional account held in the drawer's name with that institution. Both the drawer and payee may be natural persons or legal entities.
A demand draft (DD) is a negotiable instrument similar to a bill of exchange. A bank issues a demand draft to a client (drawer), directing another bank (drawee) or one of its own branches to pay a certain sum to the specified party (payee). [1] [2] A demand draft can also be compared to a cheque. However, demand drafts are difficult to ...