essential requisites of a negotiable promissory note except
1. The following are essential requisites of a negotiable promissory note except
a. must be written and signed by the drawer
b. must contain an unconditional promise to pay a sum certain in money
c. must be payable upon fixed determinable future time.
d. must be payable to order or bearer
2. Which of the following is not an essential element of a bill of exchange?
a. must be written and signed by the drawee
b. must contain an unconditional promise to pay a sum certain in money
c. must be payable to order or bearer
d. drawee must be named therein
3. The following are negotiable except
a. “Pay to bearer Jose Cruz P 10,000 upon demand”, signed by A and addressed to B
b. “Pay to Jose Cruz or bearer P 10,000 upon demand”, signed by A and addressed to B
c. “I oblige myself to pay Pedro Reyes or order P 3,000 ten days after day signed by M as maker.
d. “Good to L or order P 5,000 July 1, 2009 signed by M as maker
4. Which of the following is negotiable?
a. “ I promise to pay Jose Cruz or order P 10,000 or deliver 1 cow 20 days after date at the option of the holder” signed by M as maker
b. “Pay to Pedro Reyes or bearer P 10,000 or deliver 1 cow on 4-4-10 at the option of the drawee”, signed by A and addressed to B
c. “Pay to Pedro C. Cruz or order P 5,000 out of fund I deposited with you” signed by A and addressed to B
d. I promise to pay K. KHO or order P 10,000 in 5 installments, first installment August 1, 2009 and every month thereafter, signed by M as maker
5. The following are functions of negotiable instrument; except:
a. used as substitute for money
b. medium of credit transactions
c. medium of exchange for commercial transactions
d. none of them.
6. Which of the following is no an incident in the life of negotiable instrument? a, Issue c. Preparation
b. notice of dishonor d. Negotiation
7. Which of the following is negotiable?
a. Postal Money order
b. Certificate of stock
c. Treasury warranty
a. must be written and signed by the drawer
b. must contain an unconditional promise to pay a sum certain in money
c. must be payable upon fixed determinable future time.
d. must be payable to order or bearer
2. Which of the following is not an essential element of a bill of exchange?
a. must be written and signed by the drawee
b. must contain an unconditional promise to pay a sum certain in money
c. must be payable to order or bearer
d. drawee must be named therein
3. The following are negotiable except
a. “Pay to bearer Jose Cruz P 10,000 upon demand”, signed by A and addressed to B
b. “Pay to Jose Cruz or bearer P 10,000 upon demand”, signed by A and addressed to B
c. “I oblige myself to pay Pedro Reyes or order P 3,000 ten days after day signed by M as maker.
d. “Good to L or order P 5,000 July 1, 2009 signed by M as maker
4. Which of the following is negotiable?
a. “ I promise to pay Jose Cruz or order P 10,000 or deliver 1 cow 20 days after date at the option of the holder” signed by M as maker
b. “Pay to Pedro Reyes or bearer P 10,000 or deliver 1 cow on 4-4-10 at the option of the drawee”, signed by A and addressed to B
c. “Pay to Pedro C. Cruz or order P 5,000 out of fund I deposited with you” signed by A and addressed to B
d. I promise to pay K. KHO or order P 10,000 in 5 installments, first installment August 1, 2009 and every month thereafter, signed by M as maker
5. The following are functions of negotiable instrument; except:
a. used as substitute for money
b. medium of credit transactions
c. medium of exchange for commercial transactions
d. none of them.
6. Which of the following is no an incident in the life of negotiable instrument? a, Issue c. Preparation
b. notice of dishonor d. Negotiation
7. Which of the following is negotiable?
a. Postal Money order
b. Certificate of stock
c. Treasury warranty