Commercial Law, 2013 Bar — Question I

ESSAY

Antonio issued the following instrument: August 10, 2013 — Makati City — P100,000.00 "Sixty days after date, I promise to pay Bobby or his designated representative the sum of ONE HUNDRED THOUSAND PESOS (P100,000.00) from my BPI Acct. No. 1234 if, by this due date, the sun still sets in the west to usher in the evening and rises in the east the following morning to welcome the day." (Sgd.) Antonio Reyes Explain each requirement of negotiability present or absent in the instrument. (8%)

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