Professional Documents
Culture Documents
MIDTERM EXAMINATION
ATTY. YAYE DOMOCMAT LARES
Name:___________________________
Course$Yr.:_______________________
I.
Score:__________________
Date:___________________
Maker
Negotiability
Holder
Drawer
Drawee
F. Promisory Note
G. Bill of Exchange
H. Negotiation
I. Negotiable Instruments
J. P1,000.00
K. P100.00
L. Bankers Acceptance
M. Time Draft
N. Demand Draft
O. Check
____11. It is that attribute or property whereby a bill or note or check may pass
from hand to hand similar to money, as to give the holder in due course the right
to hold the instrument and to collect the sum payable for himself free from
defenses.
____12. It is a written contract for the payment of money which is intended as a
substitute for money and passes from one person to another as money, in such a
manner as to give a holder in due course the right to hold the instrument free
from defenses available to prior parties.
____13. The transfer of an instrument from one person to another in such a
manner as to constitute the transferee a holder thereof.
____14. A time draft across the face of which the drawee has written the word
accepted.
____15. The person who is in the possession of a bearer instrument or an indorsee
of an order instrument who is in possession thereof.
III. Determine whether the instrument is NEGOTIABLE or NOT NEGOTIABLE.
1. For value received, I promise to pay to UNP, the sum of FIFTY THOUSAND
PESOS (P50,000.00), Philippine currency, the said principal amount, to be
payable in 12 monthly installments starting January 1, 2016 and every 1 st of
the month thereafter until fully paid.
__________________________
2. Pay to the order of Juan De La Cruz
_________________________
3. I promised to pay bearer Php100,000.00 within 5 days from death of Mr. Z.
__________________________
4. I promised to pay Cash as soon as my means permit me to do so
__________________________
5. Due
A.B
or
order
Php10,000.00,
payable
on
demand
______________________
6. I promised to pay bearer P1,000.00 or a sack of rice at the option of the
holder.
______________________
7. I promised to pay bearer P1,000.00 or a sack of rice at my option.
________________________
8. Due to Y or order Php12,000.00, payable in 6 installments in the amount of
Php2,000.00 per installment
______________________
9. Pay to Faydoh or order on or before February 14, 2016
___________________
10. Pay to the order of Donaire or Chloe the amount of Php100,000.00 twenty
days after sight
________________________
IV. Enumeration
1-5. Requisites of Negotiability under NIL
6-7. Two important features of Negotiable Instruments
8-9. Two kinds of Negotiable Instruments
10. Bonus
-GOOD LUCK-