Escolar Documentos
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Cultura Documentos
1. Pay to the order of B, P25,000, at sight after the arrival and discharge of 10 boxes of sardines
from Vessel X at Pier 8, Manila.
A. True; False
B. False; True
C. Both statements are true.
D. Both statements are false
2. I promise to pay to the order of B, P8,000 one year after date in 5 month’s installments of
P1,600 each, “with the privilege of discharging this note by payment of principal less a discount
of 5% within 30 days from the date thereof.”
Sgd. X
Statement 1. The note is negotiable because although it is not dated, one year from date
will be one year from issuance thereof.
Statement 2. The instrument is not negotiable because the sum is not certain.
A. True; False
B. False; True
C. Both statements are true.
D. Both statements are false
A. True; False
B. False; True
C. Both statements are true.
D. Both statements are false
4. I promise to pay to the order of B, P20,000 at such time as the promissor may
choose.
Sgd. X
Statement 1. The instrument is negotiable because it is payable on demand.
Statement 2. The instrument is payable on a determinate future time.
A. True; False
B. False; True
C. Both statements are true.
D. Both statements are false
A. True; False
B. False; True
C. Both statements are true.
D. Both statements are false
Sgd. X Sgd. Y
A. True; False
B. False; True
C. Both statements are true.
D. Both statements are false
6. I promise to pay to bearer or order P20,000 on demand.
Sgd. A
A. True; False
B. False; True
C. Both statements are true.
D. Both statements are false
Sgd. X, agent of Y
A. True; False
B. False; True
C. Both statements are true.
D. Both statements are false
A. True; False
B. False; True
C. Both statements are true.
D. Both statements are false
10. I promise to pay to the order of B, P20,000 on December 1, 2009 with costs and attorney’s fees
incurred for the collection of the debt.
Sgd. A
Statement 1. The instrument is negotiable because the sum certain is ascertainable on the face of
the instrument.
Statement 2. The instrument is not negotiable because the sum is not certain.
A. True; False
B. False; True
C. Both statements are true.
D. Both statements are false
Statement 1. This is a negotiable bill of exchange because it does not contain a promise to pay.
A. True; False
B. False; True
C. Both statements are true.
D. Both statements are false
CASE ANALYSIS
1. For the purpose of lending his name without receiving value therefor, Pedro makes a note
for P20,000.00 payable to the order of X who in turn negotiates it to Y, the latter knowing
that Pedro is not a party for value.
a. May Y recover from Pedro if the latter interposes absence of consideration?
b. Supposing under the same facts, Pedro pays the said P20, 000.00, may he recover
the same amount from X? Explain [1998 Bar Examination].
2. Nora applied for a loan of P100,000.00 with BUR Bank. By way of accommodation,
Nora’s sister, Vilma, executed a promissory note in favor of BUR Bank. When Nora
defaulted, BUR Bank sued Vilma, despite its knowledge that Vilma received no part of the
loan.
a. May Vilma be held liable? Explain [1996 Bar Examination].
3. Santos purchased Vera’s car for P50,000.00. Not having enough cash on hand, Santos
offered to pay in check. Vera refused to accept the check unless it is indorsed by Reyes,
their mutual friend. Reyes indorsed Santos’ check and Vera, knowing that Reyes had not
received any value for indorsing the check, accepted it. The next day, Vera presented the
check to the drawee bank for payment. Payment was refused for lack of funds. Vera gave
notice of dishonor to Reyes, but Reyes refused to pay, saying that he indorsed merely as a
friend.
a. Is Reyes liable to Vera? In the event Reyes voluntarily pays Vera, does Reyes have
the right to recover from Santos? Explain [1985 Bar Examination].