This case has been cited 1 times or more.
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2001-02-12 |
KAPUNAN, J. |
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| A check must be presented for payment within a reasonable time after its issue,[22] and in determining what is a "reasonable time," regard is to be had to the nature of the instrument, the usage of trade or business with respect to such instruments, and the facts of the particular case.[23] The test is whether the payee employed such diligence as a prudent man exercises in his own affairs.[24] This is because the nature and theory behind the use of a check points to its immediate use and payability. In a case, a check payable on demand which was long overdue by about two and a half (2-1/2) years was considered a stale check.[25] Failure of a payee to encash a check for more than ten (10) years undoubtedly resulted in the check becoming stale.[26] Thus, even a delay of one (1) week[27] or two (2) days,[28] under the specific circumstances of the cited cases constituted unreasonable time as a matter of law. | |||||