Page 310 - Important Provisions of The New Civil Code
P. 310
Article 1249. The payment of debts in money
shall be made in the currency stipulated, and if
it is not possible to deliver such currency, then
in the currency which is legal tender in the
Philippines.
The delivery of promissory notes payable to
order, or bills of exchange or other mercantile
documents shall produce the effect of payment
only when they have been cashed, or when
through the fault of the creditor they have been
impaired.
In the meantime, the action derived from the
original obligation shall be held in the
abeyance. (1170)
