Академический Документы
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Part I
Preliminaries
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10. What are the special types of promissory notes?
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21. Define a clean bill of exchange.
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23. Can a payee enforce payment on the bill against the drawee to whom the bill is
addressed, if the drawee does not accept the bill?
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29. Is the holder duty bound to resort to the referee in case of need?
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Lesson 3 – Check
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34. Can both cashier’s and manager’s checks be treated as promissory notes?
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43. What is a certified check?
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46. What is the effect if the check is certified procured by the holder?
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47. What is the effect of certification of the check procured by the drawer?
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48. When does a check operate as an assignment of the funds of the drawer with the
drawee bank available for payment?
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50. How do you call a check which is not presented for payment within a reasonable
time after its issue?
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51. When is a drawer of a check discharged from liability in the event it has become
stale?
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52. What is the effect upon the liability of the endorser in case the check is not
presented for payment within a reasonable time after its issuance?
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Lesson 4 – Requisites of Negotiability
Lesson 5 – Writing
59. For an instrument to be negotiable must it follow literally the language of the
Negotiable Instruments Law?
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Lesson 6 – Signature
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62. What is the general rule as to the liability of a person whose signature does not
appear on the instrument?
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64. What are requisites must be followed so that the agent in so signing his principal
will not be personally liable?
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71. The question in this item was moved to Part 3 of GQ as question item 19
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73. In how many ways may forgery of a signature be done?
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77. Supposing A represents himself to be Jose Reyes, when in fact he is not. Through
this misinterpretation A obtains from X a negotiable note payable to order of Jose Reyes.
Then A indorses the note, signing “JOSE REYES”. Is this forgery?
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78. What are the effects of forgery of a signature on the instrument in general?
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79. Who are the persons precluded from setting up the defense of forgery?
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Lesson 7- Parties
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83. Who is a Drawer?
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94. What kind of liability has a maker?
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101. In what respect does a maker differ from the acceptor as regards their primary
liability?
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102. When is a promise or order considered unconditional within the meaning of the
Act?
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104. Suppose the fund stated on the instrument is the source of reimbursement, will the
promise or order remain unconditional?
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106. Will an indication of a particular account to be debited with the amount affect
negotiability?
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108. If on the face of the instrument there are additional provisions as something to be
done or added, will the instrument be negotiable?
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109. What is the test to determine whether additional acts will or will not impair
negotiability?
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110. What acts in addition to payment of money will not affect negotiability?
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114. In case there is an option to require something to be done in lieu of money on the
instrument, will it affect negotiability?
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118. If the instrument contains the following: that the sum of P1,000 is payable in two
equal installments”, will that satisfy the stated installments as required by the law?
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120. How does an acceleration clause affect the certainty of the sum payable?
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122. Does the phrase “with exchange” destroy negotiability?
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123. Suppose the instrument is payable in foreign currency, will that destroy
negotiability?
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124. How does the stipulation on costs and attorney’s fees affect negotiability?
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Lesson 10 – Demand
127. But if the note above was issued by A to B last Jan. 10, 2010 but was only
indorsed by B to C last Jan. 20 2010, when is it payale?
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132. Can a promissory note be made payable either at a fixed period after date or after
sight?
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133. Can a bill of exchange be drawn payable at a fixed period after date or sight?
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134. If a bill of exchange payable “10 days after sight” has been presented for
acceptance on Aug. 1, 1987 but at the same time it was refuse acceptance by the drawee,
when shall maturity date be?
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135. If an instrument is payable on or before Dec. 1, 1987, can the maker be compelled
to pay before Dec. 1, 1987?
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136. Where the determinable future time specified on the instrument is sure to happen
or is certain when it shall happen, can the instrument be payable at a fixed period before
such event?
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137. Suppose the event mentioned is “death of a person”, can the instrument be made
payable before such event?
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138. I promise to pay to the order of B when X gets married to Y, Is the instrument
payable on a determinable future time?
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Lesson 13 – Order
142. Must the payee to whose order the instrument is payable be always named?
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143. There is no question in this item as well as in item 144 in the given GQ
144.
145. Can you consider the note complete, if it is payable to the order of the maker
himself?
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Lesson 14 – Bearer
147. Does the Negotiable Instrument Law distinguish between fictitious person and a
non-existing person?
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148. What requisites must be present so that an instrument where the payee named
therein is fictitious or non-existing be considered payable to bearer?
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158. As of what date shall a person acquire title to an instrument which is ante-dated or
post-dated but not for an illegal or fraudulent purpose?
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159. Under what instances may date of issuance or acceptance be inserted in the
instrument?
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160. What is the authority of the holder as regards the insertion of the date?
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162. What factors may be omitted on the face of the instrument, yet will not impair
negotiability?
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