This case has been cited 1 times or more.
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2008-11-14 |
QUISUMBING, J. |
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| Section 191 of the Negotiable Instruments Law[14] defines "issue" as the first delivery of an instrument, complete in form, to a person who takes it as a holder. Significantly, delivery is the final act essential to the negotiability of an instrument. Delivery denotes physical transfer of the instrument by the maker or drawer coupled with an intention to convey title to the payee and recognize him as a holder.[15] It means more than handing over to another; it imports such transfer of the instrument to another as to enable the latter to hold it for himself.[16] | |||||