2RIVERA-VS-SPOUSES-CHUA (1).docx - RIVERA VS SPOUSES CHUA(2015 746 scra 1 FACTS The parties were friends and kumpadres for a long time already Rivera

2RIVERA-VS-SPOUSES-CHUA (1).docx - RIVERA VS SPOUSES...

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RIVERA VS. SPOUSES CHUA (2015) 746 scra 1 FACTS: The parties were friends and kumpadres for a long time already. Rivera obtained a loan from the Spouses Chua evidenced by a Promissory Note. Three years from the date of payment stipulated in the promissory note, Rivera, issued and delivered to Spouses Chua two (2) checks drawn against his account at Philippine Commercial International Bank (PCIB) but upon presentment for payment, the two checks were dishonored for the reason “account closed.” The Spouses Chua alleged that they have repeatedly demanded payment from Rivera to no avail. Because of Rivera’s unjustified refusal to pay, the Spouses Chua were constrained to file a suit before the MeTC. Rivera, in his Answer, countered that he never executed the subject Promissory Note. After trial, the MeTC ruled in favor of the Spouses Chua. The decision was affirmed by both the RTC and the CA. ISSUE: WON Negotiable Instruments Law is applicable in the present case.
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