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    Midterm Examination Nego

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    Prinsesani Gianan
    This document contains a midterm examination on negotiable instruments law with various questions testing definitions, characteristics, and scenarios. It includes multiple choice, true/false, and short answer questions addressing topics like negotiability, forgery, liability, and more. The examination tests understanding of key concepts and ability to apply the negotiable instruments law. It instructs students to submit their answers by a deadline.

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    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd

    Midterm Examination Nego

    Uploaded by

    Prinsesani Gianan
    616 views4 pages
    This document contains a midterm examination on negotiable instruments law with various questions testing definitions, characteristics, and scenarios. It includes multiple choice, true/false, and short answer questions addressing topics like negotiability, forgery, liability, and more. The examination tests understanding of key concepts and ability to apply the negotiable instruments law. It instructs students to submit their answers by a deadline.

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    Midterm Examination Nego

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    This document contains a midterm examination on negotiable instruments law with various questions testing definitions, characteristics, and scenarios. It includes multiple choice, true/false, and short answer questions addressing topics like negotiability, forgery, liability, and more. The examination tests understanding of key concepts and ability to apply the negotiable instruments law. It instructs students to submit their answers by a deadline.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    616 views4 pages

    Midterm Examination Nego

    Uploaded by

    Prinsesani Gianan
    This document contains a midterm examination on negotiable instruments law with various questions testing definitions, characteristics, and scenarios. It includes multiple choice, true/false, and short answer questions addressing topics like negotiability, forgery, liability, and more. The examination tests understanding of key concepts and ability to apply the negotiable instruments law. It instructs students to submit their answers by a deadline.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 4

    Midterm Examination on

    NEGOTIABLE INSTRUMENT

    Instruction: Write your correct answers. Please submit and send your answers on
    February 5, 2011 to talulot162004@yahoo.com until 11:59 p.m. Send this as an
    attached document. God bless.

    I. Enumerate and Define

    1. Give the characteristics of Negotiability.

    2. Give the reason why the instruments below are non-negotiable

    a. Letters of credit

    b. Treasury warrants

    c. Warehouse receipts

    d. Postal Money Order

    3. What is Section 1 of the Negotiable Instrument Law?

    4. The Negotiable Instruments Law govern three kinds of negotiable


    instruments. What are they

    5. What is signature by procuration?

    6. What is a promissory note?

    7. What is a holder in due course?

    8. What is fraud in factum?

    9. What is a check?

    10.What is a bill of exchange?

    11.What is a negotiable instrument?

    12.Give the persons who are liable still even if their signature do not appear on
    the instrument.

    13.Who are the persons precluded to set up the defense of forgery?

    14.Who is a maker?

    Life does not begin and end within the confines of a classroom. It begins outside, so
    breathe and enjoy life—prinsesa talulot
    15.Who is a forger?

    II. True or False (Write True if the statement is true and false if it is false)

    1. In order that an instrument is negotiable, the payment must be made in


    money.

    2. Where the drawer’s signature is forged, the drawer shall bear the loss.

    3. In the hands of a holder in due course, an incomplete and undelivered


    instrument cannot be avoided.

    4. A negotiable instrument is ineffectual until delivery is made.

    5. The instrument is still valid despite a forgery on the payee’s signature was
    done.

    6. The instrument where a minor signs as drawer can still be negotiated.

    7. The agent is not liable in the instrument if he discloses the name of the
    principal and he signs in behalf of the latter.

    8. The forger is liable on the instrument even if his signature does not appear on
    the instrument.

    9. In the hands of a holder who is not a holder in due course, delivery is


    conclusively presumed.

    10. An indorser’s signature is still necessary to negotiate a bearer instrument.

    11.Certified Time Deposits are negotiable.

    12. The instrument is payable to bearer, if it expressed to be so payable.

    13.Generally, the drawee bank bears the loss in case of forgery on the drawer’s
    signature.

    14.Generally, a person whose signature does not appear on the instrument is


    not liable.

    15.If an incomplete but delivered instrument is in the hands of a holder in due


    course, it is valid and effectual for all purpose as though it was filled up
    strictly in accordance with the authority given and within a reasonable time.

    III. Negotiable or not, Why? (Identify if the following instruments are negotiable or
    not and the reason behind your answers)

    Life does not begin and end within the confines of a classroom. It begins outside, so
    breathe and enjoy life—prinsesa talulot
    1. March 20, 2010

    I promise to pay B Php 1, 000 with 12% interest per annum.

    Signed A.

    2.

    Feb. 2, 2012

    Pay to A Php 1, 000 on the above-stated date.

    Sgd B

    To: D

    3.

    I promise to pay Redanto one kilo of sugar.

    Sgd Hermie

    4.

    Pay to Superman Php 1, 0000

    To: Maritess Sgd. Irene

    5.

    Pay to cash the sum of PHP 3,000

    Sgd. Rebecca

    To: RJ

    IV. Problem solving

    Eric, the maker, executed a promissory note which reads,

    I promise to pay Irene the sum of Php 1million.


    Life does not begin and end within the confines of a classroom. It begins outside, so
    breathe and enjoy life—prinsesa talulot
    SGD.___________

    He was a busy man so he forgot the note and put it inside his drawer. His secretary,
    Maritess, suddenly found it, signed the instrument using Eric’s signature and
    negotiated the instrument to Christopher, then to Allan and to Pokwang. Pokwang is
    a holder in due course. Can Eric be held liable on the instrument? This instrument is
    incomplete and undelivered.

    Bonus question: What is your law teacher’s pen name? 

    -Enjoy-

    Life does not begin and end within the confines of a classroom. It begins outside, so
    breathe and enjoy life—prinsesa talulot

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