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What is Legal Validity of Attorney about?
1) The document involved a promissory note from Manila Oil to PNB that contained a provision allowing any Philippine lawyer to confess judgment on behalf of Manila Oil if it was unable to pay when the note became due. 2) Manila Oil defaulted on payment and a PNB lawyer confessed judgment, which Manila Oil protested. 3) PNB argued section 5 of the Negotiable Instruments Law allowed confession of judgment provisions without affecting negotiability, but the court disagreed, finding such provisions are not al
- Author
- Andrea Rio
- Language
- EN