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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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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2. Negotiable Instruments Law (Act No. 2031) Chapter I. INTRODUCTION 1. The Negotiable Instrument Written contract for the payment of money‚ by its form intended as substitute for money and intended to pass from hand to hand to give the HDC the right to hold the same and collect the sum due. Instruments are negotiable when they conform to all the requirements prescribed by the NIL (Act 2031‚ 03 February 1911). Although considered as medium for payment of obligations‚ negotiable instruments are
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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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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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Part A: Long-term debt can generally be classified into three different categories: bonds payable‚ notes payable‚ and capital leases. Bonds payable can be secured by collateral‚ such as a mortgage bond‚ or unsecured‚ backed only by a company’s promise to pay. Most bonds carry a stated rate of interest but others are sold at a discount with an implied rate of interest inherent in the discounted sale. Some bonds can be converted into other securities. Other bonds can be called in by the corporation
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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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