Valuable Consideration

Review class in Negotiable Instruments Law…

PROFESSOR: What constitutes valuable consideration? Can anybody here tell me? You, Mr. —, if for instance you execute a promissory note, saying that because of love and affection, you promise to pay P10,000 or order to Ms. ___ who then negotiates to Mr. X. When the note becomes due and demandable, will you pay Mr. X?<

STUDENT: No, sir.

PROFESSOR: Why not?

STUDENT: Because love and affection is not a valuable consideration.

PROFESSOR: You mean to say that your love has no value at all?

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