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Bearer Instrument

Forged Signature of DRAWER

Drawer/
maker

Parties
prior to the
forgery

Acceptor

Parties
subsequent
to the
forgery

Forger

LLpA 2015 :>

Bill

Note

HDC/NHDC

HDC/NHDC

Not liable
raise the defense of
forgery. not a party
to the contract
since it is his
signature that is
forged the
instrument is
wholly inoperative
as to him

Not liable
raise the defense of
forgery. not a party to the
contract since it is his
signature that is forged
the instrument is wholly
inoperative as to him

N/A

N/A

Liable
by accepting the
instrument, he
warrants the
genuineness of the
signature of the
drawer (precluded
from raising the
defense of forgery)

N/A

Liable
Parties who validly negotiated the instrument
are precluded from raising the defense of
forgery since they warrant that the instrument
is genuine and in all respects as to what it
purports to be
(TN: Though signature of a drawer is necessary
to make the instrument negotiable, if it is with
the holder other than the maker, there is a
presumption as to the validity of the delivery)

Forged Signature of INDORSER


HDC
Liable
indorsement is not
necessary to give
effect to the
instrument. Mere
delivery is sufficient
for it to be validly
negotiated. NIL
further provides that
as for HDCs, there is
a conclusive
presumption of a
valid delivery.

N/A

Note
NHDC (issue becomes
non-delivery, sec 16)

Bill
HDC

Not liable
raise the defense of
non-delivery, or no
authority to deliver, or
the delivery was done
for a conditional or
special purpose

Liable
indorsement is not necessary to
give effect to the instrument.
Mere delivery is sufficient for it
to be validly negotiated. NIL
further provides that as for
HDCs, there is a conclusive
presumption of a valid delivery.

N/A

Liable
the forged signature was not
necessary for the acceptors
obligation. By accepting the
document, he has obliged
himself to pay upon
presentment of the instrument.

NHDC (issue becomes


non-delivery, sec 16)

Not liable
raise the defense of nondelivery, or no authority
to deliver, or the delivery
was done for a conditional
or special purpose

Liable
Parties who validly negotiated the instrument are precluded from raising the defense of forgery since they
warrant that the instrument is genuine and in all respects as to what it purports to be

Liable
1. by delivering the instrument, he warrants the instrument is genuine in all respect as to what it purports to be
2. as the perpetrator of fraud, he is to be held liable. We do not tolerate crime in commercial transactions

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Order Instrument

Drawer or Maker

Parties prior to the


forgery

Acceptor

Parties subsequent to the


forgery
Forger

Forged Signature of Drawer/Maker


Note
Bill
HDC/NHDC
HDC/NHDC
Not liable
Not liable
raise the defense of forgery. raise the defense of forgery.
not a party to the contract
not a party to the contract
since it is his signature
since it is his signature
that is forged, the
that is forged, the
instrument is wholly
instrument is wholly
inoperative as to him
inoperative as to him
N/A

N/A

N/A

Liable
by accepting the
instrument, he warrants
the genuineness of the
signature of the drawer
(precluded from raising the
defense of forgery)

Note
HDC/NHDC

Forged Signature of Indorser


Bill
HDC/NHDC

Not liable
raise the real defense of forgery. As to them, forged signature is wholly inoperative.

N/A

Not liable
1. Validly raise the defense of forgery, being a party prior
to it. He only warrants the genuineness of the drawers
signature
2. As an acceptor, he warrants that he will pay in
accordance with the tenor of the instrument. Thus, he
cant be made to pay if it is not in accordance with the
order of the drawer.

Liable
Parties who validly negotiated the instrument are precluded from raising the defense of forgery since they warrant that the instrument is genuine
and in all respects as to what it purports to be
Liable
as the perpetrator of fraud, he is to be held liable. We do not tolerate crime in commercial transactions
(TN: in order instruments, forger does not warrant the genuineness)

Take Note: Forged signature of the acceptor will not be part of our exam. (Instrument remains inoperative unless accepted by the acceptor. Thus, if the signature of
the acceptor is forged, the instrument is without effect. The holder thereof must have to present it to the acceptor (whose signature was forged), for it to produce
effect.
No one may be held liable because it was never presented to the person primarily liable.

LLpA 2015 :>

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