the Negotiable Instruments Act states that a negotiable instrument is a promissory note‚ bill of exchange or a cheque payable either to order or to bearer. Negotiable instruments recognised by statute are: (i) Promissory notes (ii) Bills of exchange (iii) Cheques. Negotiable instruments recognised by usage or custom are: (i) Hundis (ii) Share warrants (iii) Dividend warrants (iv) Bankers draft (v) Circular notes (vi) Bearer debentures (vii) Debentures of Bombay Port Trust (viii) Railway receipts
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order to highlight some point of similarity. As Freud suggested‚ an analogy won ’t settle an argument‚ but a good one may help to clarify the issues. Like the Martin Luther King’s speech: It is obvious today the America has defaulted on this promissory note insofar as her citizens of color are concerned. Instead of honoring this scared obligation‚ America has given the Negro people a bad check‚ which has come back marked “insufficient funds.” 2 - In my opinion‚ racism is a certain kind of prejudice
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check as payment. a. I‚ II and III b. I‚ II and IV c. I and II d. All of them 2. M issued a promissory note to payable to the order of P. P indorsed it specially to A. Without the knowledge of A‚ X took the note and forged A’s signature and then delivered it to B‚ who specially indorsed it to C‚ C to D‚ D to E‚ and E to H‚ a holder in due course. Against whom can H demand payment of the note? a. B‚ C‚ D and E because their signatures appear after the forgery b. M and P because their signatures
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checks‚ promissory notes‚ and certificates of deposit. -Utilized in the sale of goods and services as well as financing businesses. The use of negotiable instruments has increased to such an extent that payments made with these instruments‚ checks in particular‚ are now many times greater than payments made with cash‚ which now is used primarily for smaller transactions. The utilization of checks has decreased due to the emergence of electronic transfers‚ while promissory notes have been utilized
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distribution and printing of the 95‚000 posters would be made‚ that Pecson gave Moran P10‚000 for which the latter issued a receipt; that only a few posters were printed; that on or about May 28‚ 1971‚ Moran executed in favor of Pecson a promissory note in the amount of P20‚000 payable in two equal installments (P10‚000 payable on or before June 15‚ 1971 and P10‚000 payable on or before June 30‚ 1971)‚ the whole sum becoming due upon default in the payment of the first installment on the date due
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Instruments 5. Promissory Notes 5.1. Characteristics of a Promissory Note 5.2. Specimen of Promissory Note 6. Bill of Exchange 6.1. Definition of Bill of Exchange 6.2. Characteristics of Bill of Exchange 6.3. Specimen of A Bill Of Exchange 7. Cheque 7.1. Definition of Cheque 7.2. Essential Elements of a cheque 7.3. Specimen of a Cheque 7.4. Types of Cheque 7.5. Dishonor of Cheques 7.6. Five Ingredients of the offence 8. Difference between Promissory Note and Bill of Exchange
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ReSA The Review School of Accountancy Tel. No. 735-9807 & 734-3989 BUSINESS LAW Atty. Marcelino S. Bonafe Jr. QUIZ- NEGOTIABLE INSTRUMENTS LAW (PART II) MULTIPLE CHOICE 1. A negotiable instrument must contain a promise or order to pay a sum certain in money‚ except a) Which must be payable to order or bearer b) That must be in writing c) Which must be an unconditional promise or order d) The payee must be identified 2. The following are the functions
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and even was contracted in the production of defense materials in World War II. The company was later to diversify its product portfolio to include the photographic products‚ electro-mechanical products‚ pharmaceuticals‚ radiology and the Post-it Notes that revolutionized communication and organization. In the late 1990s‚ the total sales of the company reached a $15 billion mark and the assessment of its 2010 public filings has reached a profit mark of 30 billion dollars (NoAuthorFound‚ 2002). The
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are you?” Trevor is then shown back in his apartment‚ washing his hands with bleach in his bathroom sink. The picture pans back. The same yellow flashlight the guard was holding is now lying on his coffee table. Trevor notices a yellow Post-It note on the wall behind him with “WHO ARE YOU?” written on it. The film alternately illustrates how Trevor has been deteriorating‚ both physically and mentally‚ by shifting through scenes with his call-girl girlfriend‚ his apartment‚ his work‚
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a loan in the amount of Php 700‚000.00 with interest of 24% P.A. for which they executed and delivered to Town Savings Loan Bank a promissory note with maturity period of 3 years and with acceleration clause. Thy defaulted‚ subsequently‚ demand for payment were sent to them. The Hipolitos denied being personally liable on the Php 700‚000.00 promissory note which they executed. The loan was allegedly for the account of Pilarita H. Reyes‚ the sister of Miguel Hipolito. She was the real party-in-interest
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