LAPULAPU FOUNDATION‚ INC. and ELIAS Q. TAN Respondents: COURT OF APPEALS (Seventeenth Division) and ALLIED BANKING CORP. Ponente: CALLEJO‚ SR.‚ J FACTS: In 1977‚ four loans from Allied Banking Corporation which is enclosed by four promissory notes amounting P100‚ 000 each was acquired by Elias Q. Tan‚ then President of Lapu-lapu Foundation‚ Inc. The bank was inhibited to file with the Regional Trial Court of Cebu City‚ Branch 15‚ a protest in looking for payment by Tan and the foundation‚ jointly
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balances of P6‚000. During your examination‚ you noted that on December 31‚ the company assigned P300‚000 of customers’ accounts to secure a 17%‚ P240‚000 note payable. A 1% commission based on the accounts assigned was charged and deducted from the cash received. The client recorded this transaction by a debit to cash and a credit to notes payable. Questions 1. How much is the Accounts Receivable (gross) balance at December 31? a. P 759‚000 b. P 789‚000 c. P 1‚101‚000 d. P 1‚131‚000
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Negotiable Instruments Act‚ 1881 From Wikipedia‚ the free encyclopedia Jump to: navigation‚ search The Negotiable Instruments Act‚ 1881 | An Act to define and Law relating to negotiable instruments which are Promissory Notes‚ Bills of Exchange and cheques | Citation | Act No. 26 of 1881 | Enacted by | Imperial Legislative Council (India) | Date enacted | 9 December 1881 | Date commenced | 1 March 1882 | Negotiable Instruments Act‚ 1881 was passed by British India and for over 130
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BPI v. DE COSTER 47 PHIL 594 FACTS: On Dec. 29‚ 1921‚ Gabriela Andrea de Coster y Roxas and her husband acting as her agent‚ made to the BPI a certain promissory note for P292‚000‚payable one year after date‚ with interest of 9 per cent per annum and payable monthly. In order to secure the payment thereof‚ Jean M.Poizat and J. M. Poizat and Co. executed a chattel mortgage in favor of the plaintiff on the steamers Roger Poizat and Gabrielle Poizat including the machinery and materials belonging
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ckChapter 11 – Reporting and Analyzing Stockholders’ Equity I. Characteristics of a Corporation (Publicly held (closely held)) * Separate legal existence; * Limited liability of stockholders; limited to investment * Transferable ownership rights; * Ability to acquire capital; * Continuous life; * Corporation management: Shareholders Shareholders * Voting rights * Profit sharing * Preemptive right * Residual claim Board of Directors
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whether the following provisions in a note impair or preclude negotiability‚ the instrument in each instance being otherwise in proper form. Answer each statement with either “Negotiable” or Nonnegotiable” and explain why. A. A note signed by Henry Brown in the trade name of the Quality Store. Nonnegotiable‚ no fixed amount. B. A note for $850‚ payable to the order of TV Products Company‚ “If‚ but only if‚ the color television set for which this note is given proves entirely satisfactory to
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2012/13 Law 3240 and 5760 Equity and Trusts Seminar 3 The Three Certainties: Certainty of Intention‚ Certainty of Subject Matter‚ and Introduction to Certainty of Objects Essential Reading Martin‚ Hanbury & Martin: Modern Equity (19th ed.‚ Sweet & Maxwell‚ 2012) 97-107; or Watt‚ Trusts and Equity (5th ed.‚ Oxford University Press‚ 2012)‚ 77-92; or Wilson‚ Todd and Wilson’s Textbook on Trusts (10th ed. Oxford University Press‚ 2011)‚ 53-72
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November 1‚ Bahama Cruise Lines borrows $3 million and issues a six month‚ 6% note payable. Interest is payable at maturity. Record the issuance of the note and the appropriate adjustment for interest expense at December 31‚ the end of the reporting period. (Enter your answers in dollars not in millions. Do not round intermediate calculations. Omit the "$" sign in your response.) Date Nov. 1 General Journal Cash Notes payable Debit 3‚000‚000 Credit 3‚000‚000 30‚000 30‚000 Dec. 31 Interest expense
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22.10 Does the reference to the mortgage in the note cause it to be nonnegotiable? 1. Answer: Holly Hill acres Ltd purchased the land from Rogers and Blythe. Holly Hill issued a promissory note for the mortgage to Rogers and Blythe‚ months later Rogers and Blythe got a loan from Charter Bank of Gainesville. In order for Rogers and Blythe to secure the loan they got from Charter Bank‚ they supposed to transfer the promissory note from Holly Hill‚ which made Rogers and Blythe defaulted on the loan
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University of Phoenix Material Nonverbal‚ Interpersonal‚ and Textual Communication Worksheet Nonverbal communication plays an essential role in any conversation. Individuals who are aware of nonverbal actions during conversations can more effectively interpret what is being communicated. Look at the interactions between the individuals in the following photos and interpret what you think is being expressed through nonverbal communication. Please describe the nonverbal cues that lead you
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