Sec. 10. Terms, when sufficient. - The instrument need not follow the language of this Act, but any terms are sufficient which clearly indicate an intention to conform to the requirements hereof.
JIMENEZ V. BUCOY
103 PHIL 40
FACTS:In the intestate of the estate of spouses Young, Jimenez presents a promissory note signed by Pacita Young for different amounts totaling P21,000. The administrator is willing to pay the promissory note on the premise that the amount be adjusted. Claimant assails the adjustment and
hence, she instituted a case for collection of sum of money.
*Note: “6 months after the war”
HELD:The administrator calls attention to the fact that the notes contained no express promise to pay for a certain amount. This is without merit. An acknowledge may become a promise to pay by the addition of words by which a promise of payment is naturally implied, such as “payable”,
“payable” on a given date, “payable on demand”, “paid…when called for”.
To constitute a good promissory note, no precise words of contract are necessary, provided they amount, in legal effect, a promise to pay.