Negotiable Instruments Law ReviewerFull description
Negotiable Instruments Law DigestsFull description
nego
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Notes on Law on Negotiable Instruments
Negotiable Instruments Law Reviewer
this is a review questions on negotiable instrument to aid the students in their review on Nego. some questions were provided with answers
Philippine Mercantile Law Review
Memory aid to NIL
CPAR
Bus Law 56
case digestsFull description
Negotiable Instruments Law PhilippinesFull description
Negotiable Instruments Law Questions I. •
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Forms and Interpretation. Q: What are the elements of a negotiable instrument? Q: What are the factors to determine the negotiability of the instrument? Q: What are the two kinds of negotiable instruments under the law? Q: Distinguish promissory note from a bill of exchange.
II. II. Comple pletion tion of Del Deliiver very •
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Q: Is the t he date essential to make make an instrument negotiable? Q: When is date important? Q: What is the eect of insertion of wrong date? Q: Who has the authority to ll up the blanks in an incomplete but deli!ered deli!ered instrument? Q: What is meant by material particular? particular? Q: What are the !arious situations in!ol!ing negotiable instruments? Q: When is an instrument incomplete? Q: When may a prior party be bound by an incomplete but delivered instrument? Q: "oren#o signed se!eral blank checks instructing $icky% his secretary% to ll them as payment for his obligations. $icky lled one check with her name as payee% placed &'(%(((.(( thereon% endorsed and deli!ered deli!ered it to )!elyn as payment for goods the latter deli!ered to the former. When "oren#o found out about the transaction% he directed directed the drawee bank
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to dishonor the check. When )!elyn encashed the check% it was dishonored. Is "oren#o liable to )!elyn? Q: What is the rule when an instrument is incomplete and undeli!ered? Q: What about the party whose signature was placed after deli!ery? Q: *an a +older in due course hold a maker for instruments which are incomplete and undeli!ered supposing that the note was stolen% lled,up% and was subse-uently negotiated? Q: What is the eect if an instrument is undeli!ered? Q: What is deli!ery? Q: When is an instrument issued? Q: *an a creditor bank who was the payee in a check fraudulently obtained by a third person who subse-uently encashed it sue the drawer,debtor% third person% and drawee bank for the amount of the check? Q: What is the eect if the instrument is in the possession of a holder in due course? Q: What if the instrument is in the possession of a party other than a holder in due course? Q: When is deli!ery made conditional or for a special purpose? &ro!ide examples. Q: Who are immediate parties? Q: Who are remote parties? Q: What are the rules when an instrument is complete and deli!ered?
III. Rules on Interpretation
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Q: What are the rules of construction in case of ambiguities in a negotiable instrument? Q: Who are the persons liable on an instrument? Q: Is a person signing in trade name liable? Q: What are the legal eects of an agents signature in a negotiable instrument? Q: What are the re-uisites to exempt an agent from liability? Q: What is meant by procuration? Q: What is the eect of a signature by procuration? Q: What are the eects of an infant or corporations indorsement? Q: What is forgery? Q: When is there forgery? Q: What is the eect when there is forgery? Q: *an a payee sue the collecting bank for the amount of the checks when it made payment of the same under a forged endorsement in fa!or of the forger? Q: Who are precluded from setting up the defense of forgery? Q: What are the rights of the parties in cases of forged instruments? Q: / client indorsed a check with a forged indorsement. 0he collecting bank indorsed the check with the drawee bank. What are the liabilities of the parties? Q: What is the remedy of the drawee bank? Q: What is the liability of the drawee bank and the drawer for the amount paid on checks with forged
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indorsements% if the same was due to the negligence of both the drawee bank and the drawer? Q: *an a drawer,depositor who entrusted his check books% credit cards% passbooks% bank statements and cancelled checks to his secretary and who had introduced the secretary to the bank for purposes of reconciliation of his accounts hold the drawee bank liable for the amounts withdrawn by the secretary by forging his signature on the checks? Q: *an a drawer% from whom checks were stolen but failed to report the same to the authorities or the drawee bank% reco!er the !alue of the checks paid by the drawee bank on the forged checks which was stolen from the drawer? Q: +ow is forgery pro!en and who has the burden of proof? Q: Discuss the legal conse-uences when a bank honors a forged check. Q: What are the kinds of fraud relating to a negotiable instrument? Q: 0he drawers signature was forged. 0here is% howe!er% a pro!ision in the monthly bank statement that if the drawers signature was forged% the drawer should report it within 1( days from receipt of the statement to the drawee. 0he drawer% howe!er failed to do so. What will be its eect insofar as the drawers right is concerned? Q: If forgery was committed by an employee of the drawer whose signature was forged% does the
relationship amount to estoppel such that the drawer is precluded in reco!ering from the drawee bank?
