LAW ON NEGOTIABLE B.

By stated
INSTRUMENTS installments
(SECTION 1 – C.With exchange,
SECTION 50) whether at a
fixed rate or at
1. An instrument a current rate
to become D.By lump sum
negotiable must payment
conform to the
following
requirements 3. A promise or
except: order to pay is
A.It must be in unconditional with
writing and the following
signed by the cases, except:
drawee A.Instrument is
B.Must contain an payable
unconditional absolutely
promise to pay a B.When there is a
sum certain in reason for
money requisite
C.Must be payable C.Terms not
on demand affecting
D.Must be payable unconditional
to order liability
D.None of the
above
2. The sum certain
in money is
payable with the 4. An instrument
following except: is payable at a
A.With interest
determinable not affected with
future time when: the following
A.At a fixed facts, except:
period after A.It is dated
date or sight B.Does not specify
B.On or before a the value given
fixed time C.Does not specify
C.On or before a the place where
determinable it is drawn
future time D.Bears a seal
D.Before the 7. An instrument
occurrence of a is payable on
specified event demand with the
following cases
5. As a general except:
rule, the A.Expressed to be
instrument is ____ payable on
if it contains a demand
promise or order B.In which no time
to do any act in for payment is
addition to the expressed
pay of money. C.Payable on
A.negotiable demand as
B.non-negotiable regards the
C.indorsable drawee
D.payable D.Payable on
demand as
6. The validity regards the
and negotiable indorser
character of an
indorsement are
8. The instrument not purport to
may be drawn be the name of
payable to the any person
following persons,
except:
A.drawer 10. The ____ need
B.drawee not follow the
C.two or more of language of act
several payees no. 2031, but any
D.the holder of an terms are
office for the sufficient which
time being clearly indicate
an intention to
conform to the
9. An instrument requirements.
is payable to A.document
bearer with the B.instrument
following, except: C.indorsement
A.When it is D.bearer
expressed to be
so payable 11. When the
B.When it is instrument or
payable to a acceptance or any
person named or indorsement is
bearer dated, such date
C.When the first is deemed ____ to
or last be true date of
indorsement is the making,
an indorsement drawing,
in blank acceptance or
D.When the name of indorsement.
the payee does
A.negotiorum complete
gestio instrument is
B.sulotio indebiti delivered, except:
C.prima facie A.authority to
D.accion pauliana fill up the
blanks
12. An instrument B.authority to put
is ____ when it any amount
contains a date C.right against
earlier than the party before
true date of its completion
issuance. D.right of holder
A.pre-dated in due course
B.post-dated
C.ante-dated 15. Which of the
D.undated following is a
rule when an
incomplete
13. It is when an instrument is
instrument undelivered?
contains a date A.defense
later than the available to
true date of its parties after
issuance. delivery
A.pre-dated B.defense against
B.post-dated a holder in due
C.ante-dated course
D.undated C.right against
party after
14. The following completion
are rules when a
D.right of holder D.date when
in due course stipulated
interest to run
16. It may be not specified
made either by the
maker or drawer 18. One who signs
himself or through in ____ or assumed
a duly authorized name will be
agent for the liable to the same
transfer of extent as if he
possession. had signed in his
A.sale own name.
B.delivery A.trade
C.order B.fake
D.ownership C.real
D.true
17. The following
are rules of 19. Who can sign
construction in the instrument
case of ambiguity aside from the
or omission, maker?
except: A.authorized agent
A.sums expressed B.drawee
in words and in
different C.third person
figures D.third party
B.words ambiguous
or certain 20. In order that
C.instrument is an agent who signs
dated a negotiable
instrument may
escape personal B.procuration
liability, the C.assignment
following are the D.indorsement
requisites except:
A.he duly
unauthorized 22. The following
B.he adds words to cannot enter a
his signature contract except:
indicating that A.minors
he signs as an B.insane persons
agent, on behalf C.deaf-mutes who
of a principal know how to
or in a write
representative D.demented persons
capacity
C.he discloses his 23. It means
principal counterfeit-making
D.he discloses his which may consist
principal with in the signing of
use of another's name or
descriptive the alteration of
words an instrument in
the name, amount,
21. It is the act description of the
by which a person, with
principal gives intent to defraud.
power to another A.intimidation
to act in his B.fraud
place he could C.forgery
himself. D.violence
A.consideration
24. It is the
immediate, direct,
or essential
reason which
induces a party to
enter into a
contract.
A.cause
B.procuration
C.assignment
D.undue influence

25. It is any
consideration
sufficient to
support a simple
contract.
A.amount
B.money
C.sale
D.value
LAW ON NEGOTIABLE INSTRUMENTS

1.A
2.D
3.D
4.D
5.B
6.A
7.C
8.D
9.C
10. B
11. C
12. C
13. B
14. C
15. A
16. B
17. C
18. A
19. A
20. D
21. B
22. C
23. C
24. A
25. D