IV. Interpretation and Construction of Instruments

Question 1

What is the legal effect when the instrument is dated?

Answer 1

It is prima facie to be the true date of the making, draing, acceptance, or indorsement, as the case may be.

In other words it is presumed that said date is the date when it was made or drawn.

Sec. 11. Date, Presumption as to. – Where the instrument or an acceptance of any indorsement thereon is dated, such date is deemed prima facie to be the true date of the making, drawing, acceptance, or indorsement, as the case may be.

Question 2

Is an instrument invalid because it is ante-dated?

Answer 2

No. It will only be invalid if it is ante-dated or post-dated for ilelgal or fraudulent purposes.

Sec. 12. Ante-dated and Post-dated. – The instrument is not invalid for the reason only that it is ante-dated or post-dated, provided this is not done for an illegal or fraudulent purpose. The person to whom an instrument so dated is delivered acquires the title thereto as of the date of delivery.

Question 3

Does the person who acquires an ante-dated or post-dated instrument acquire a title?

Answer 3

Yes. The person to whom an instrument so dated is delivered acquires the title thereto as of the date of delivery. [Sec. 12, NIL]

Question 4

When may a date be inserted?

Answer 4

• Where an instrument exprssed to be payable at a fixed period after date is issued undated;
• Where the acceptance of an instrument payable at a fixed period after sight is undated.

Sec. 13. When Date May Be Inserted. - Where an instrument expressed to be payable ata fixed period after date is undated, or where the acceptance of an instrument payable at a fixed period after sight is undated, any holder may insert therein the true date of issue or acceptance, and the instruent shall be payable accordingly. The insertion of a wrong date does not avoid the instrument in the hands of a subsequent holder in due course; but as to him, the date so inserted is to be regarded as the true date.

Question 5

When is an instrument ante-dated?

Answer 5

It is ante-dated when it contains a date earlier than the true date of its issuance. An instrument is issued on July 30, 2010 but is dated July 15, 2010 is ante-dated.

Question 6

When is an instrument post-dated?

Answer 6

When it contains a date later than the true date of its issuance. Issued on July 15 but dated on July 30.