Negotiable Instruments Law – Negotiable Instruments in General – 161 SCRA 518 – Certainty of Payee 

In 1975, Liberato Casals, majority stockholder of Casville Enterprises, went to buy two garrett skidders (bulldozers) from Edward J. Nell Company amounting to P970,000.00. To pay the bulldozers, Casals agreed to open a letter of credit with the …