As the instrument is negotiated through indorsement, additional parties (indorsers) become secondarily liable for its payment. Requisites of Negotiability (Section 1)
According to De Leon, for an instrument to be negotiable under the NIL, it must strictly comply with these five requirements: (PDF) DE LEON Negotiable Instruments Law - Academia.edu negotiable instruments law de leon pdf new
Hector S. De Leon’s is a foundational textbook for law and business students in the Philippines. It provides a comprehensive analysis of Act No. 2031 , known as the Negotiable Instruments Law (NIL) , which has governed commercial transactions in the country since 1911. negotiable instruments law de leon pdf new