Undated instruments are still considered valid and negotiable. If an instrument contains a date, that date is presumed to be the correct date of making, drawing, accepting, or endorsing. An instrument can be ante-dated or post-dated. Any holder of an undated instrument that is payable at a fixed period after date can insert the true date of issue or acceptance. Inserting an incorrect date does not invalidate the instrument for a holder in due course, who considers the inserted date as the true date.
Undated instruments are still considered valid and negotiable. If an instrument contains a date, that date is presumed to be the correct date of making, drawing, accepting, or endorsing. An instrument can be ante-dated or post-dated. Any holder of an undated instrument that is payable at a fixed period after date can insert the true date of issue or acceptance. Inserting an incorrect date does not invalidate the instrument for a holder in due course, who considers the inserted date as the true date.
Undated instruments are still considered valid and negotiable. If an instrument contains a date, that date is presumed to be the correct date of making, drawing, accepting, or endorsing. An instrument can be ante-dated or post-dated. Any holder of an undated instrument that is payable at a fixed period after date can insert the true date of issue or acceptance. Inserting an incorrect date does not invalidate the instrument for a holder in due course, who considers the inserted date as the true date.
DATES • PRESUMPTION: Section 11 of NIL • The lack of date in an instrument will not render it invalid or non- negotiable (Section 6[a]) • If the instrument contains a date, that date is presumed to be the date when it was made, drawn, accepted, or indorsed • ANTE-DATING or POST-DATING: Section 12 of NIL • Ante-date • Post-date DATES • When date may be inserted: Section 13 of NIL WHAT: undated instrument WHEN: (a) instrument is expressed to be payable at a fixed period after date is issued; (b) the acceptance of an instrument payable at a fixed period after sight →any holder may insert the true date of issue or acceptance, and the instrument shall be payable accordingly. DATES →Insertion of a wrong date does not avoid the instrument in the hands of a holder in due course, as to him, the date so inserted is to be regarded as the true date. HOLDER IN DUE COURSE (Section 52)- COFI C- That is complete and regular upon its face O- That he became the holder of it before it was overdue, and without notice that it had been previously dishonoured, if such was the fact F- That he took it in good faith and for value I- That at the time it was negotiated to him, he had no notice of any infirmity in the instrument or defect in the title of the person negotiating it