b. Helen can recover P'100,000 from d. Maggie and Homer are not liable to Maggie. Helen 46."| promise to pay P or his order the sum of P 10,000.00 30 days after the death of X.” This is an instrument payable: a. Ata determinable future time b. On Demand ¢. Upon the fulfillment of a condition d. Atan indefinite time, hence, non-negotiable 47.4 negotiable instrument that is not dated will be considered dated as at the time of ‘2, Acceptance . Last endorsement b. First endorsement 4. Issuance 48.Who among the following is the holder of a negotiable instrument originally payable to order? ‘a, The original payee who has negotiated the instrument b. The endorse who is in possession of the instrument ¢. The possessor of the instrument to whom the instrument was delivered without any endorsement d. The endorsee who has negotiated the instrument 49.An instrument payable to bearer may be negotiated through any of the following means, except: a. Special endorsement plus delivery b. Mere delivery ¢. Blank endorsement plus delivery d. No delivery is required as long as there is an endorsement, whether blank or special 50.Which of the following instruments is non-negotiable? a. “Pay to P or order P20,000 out of my cash in your possessions.” (Addressed to X, signed >) b. “Pay to P or order P20,000 and reimburse yourself of my cash in your possession.” (Addressed to X, Signed D) ¢. “I promise to Pay P or order, P20,000." (Signed 0) 4. “Pay P or order P20,000.”(Addressed to A. Signed by D). 5i.Every person negotiating an instrument by delivery or by qualified endorsement warrants the following. Which does not belong to the warranties? 2, That at the time of his endorsement the instrument is valid and subsisting. b. That the instrument is genuine and in all respect what it purports to be ¢. That he has good title to it and that all prior parties and capacity to contract 4d. That he has no knowledge of any fact which would impair the validity or the instrument or render it valueless. 52.Statement No. 1: Where to show displeasure over a bill of exchange addressed to him, the drawes destroys the same, under the law he is deemed to have accepted it. Statement No. 2: Where the drawer and the drawee are the same persons, the bill of ‘exchange can be regarded as a promissory note. a, Both are true. No. Lis true; No. 2is false b. Both are false 4. No. 1s false; No. 2is true