Beruflich Dokumente
Kultur Dokumente
NAME : ______________________________________________
SIGNATURE : ______________________________________________
SECTION : ______________________________________________
INSTRUCTIONS
5. Read each question very carefully and write your answers in the
same order the questions are posed.
GOODLUCK!
1
1. Is date essential to make an instrument negotiable? (1 Point)
8. What about the party whose signature was placed after delivery?
(1 Point)
9. Can a Holder in Due Course hold a maker for instruments which are
incomplete and undelivered supposing that the note was stolen,
filledup, and was subsequently negotiated? (1 Point)
11. Lorenzo signed several blank checks instructing Nicky, his secretary,
to fill them as payment for his obligations. Nicky filled one check
with her name as payee, placed P30,000.00 thereon, endorsed and
delivered it to Evelyn as payment for goods the latter delivered to
the former. When Lorenzo found out about the transaction, he
directed the drawee bank to dishonor the check. When Evelyn
encashed the check, it was dishonored. Is Lorenzo liable to Evelyn?
(3 Points)
18. Can a drawer, from whom checks were stolen but failed to report
the same to the authorities or the drawee bank, recover the value
of the checks paid by the drawee bank on the forged checks which
was stolen from the drawer? (1 Point)
28. Discuss the legal consequences when a bank honors a forged check.
(8 Points)
29. What is the effect when an order instrument was delivered without
indorsement? (2 Points)
30. X draws a check against his current account with Bonifacio Bank in
favor of B. Although X does not have sufficient funds, the bank
honors the check when it is presented for payment. Apparently, X
has conspired with the bank's bookkeeper so that his ledger card
would show that he still has sufficient funds. The bank files an action
for recovery of the amount paid to B because the check presented
has no sufficient funds. Decide the case. (3 Points)
3
31. On the right bottom margin of a PN appeared the signature of the
corporations president and treasurer above their printed names
with the phrase and in his personal capacity. The corporation
failed to pay its obligation. Are the officers liable? (2 Points)
-end-
PREPARED BY:
LEOVIGILDO M. DAYOJA
Instructor
APPROVED