ASIAN INSTITUTE OF MARITIME STUDIES

LEARNING MANAGEMENT SYSTEM

RAMOS, ALISAH A.
BSCA 32-C1
LAW 323

MODULE IV

LEARNING OUTCOME I: True or False.

False 1. Payment is made in due course when it is made after the maturity of the
payment to the holder thereof in good faith and without notice that his title is defective.

True 2. Where the instrument is made payable at a bank, it is equivalent to an order to

the bank to pay the same for the account of the principal debtor thereon.

False 3. When the instrument is payable at a fixed period after date, after sight, or after
that happening of a specified event, the time of payment is determined by including the
day from which the time is to begin to run, and by excluding the date of payment.

True 4. Presentment is not required in order to charge an indorser where the instrument
was made or accepted for his accommodation and he has no reason to expect that the
instrument will be paid if presented.

False 5. Every negotiable instrument is payable at the time fixed therein with grace.

True 6. Presentment for payment is not required in order to charge the drawer where he
has no right to expect or require that the drawee or acceptor will pay the instrument.

False 7. Subject to the provisions of this Act, when the instrument is dishonored by non-
acceptance, an immediate right of recourse to all parties secondarily liable thereon
accrues to the holder.

True 8. Where there are several persons, not partners, primarily liable on the instrument
and no place of payment is specified, presentment must be made to them all.

False 9. Delay in making presentment for payment is not excused when the delay is
caused by circumstances beyond the control of the holder and not imputable to his
default, misconduct, or negligence.

True 10. Where the persons primarily liable on the instrument are liable as partners and
no place of payment is specified, presentment for payment may be made to any one of
them, even though there has been a dissolution of the firm.