1.

If the instrument on its face is payable on a fixed date and was indorsed after it was overdue, then it is payable on demand to the person indorsing? As to the maker or drawer, it is payable on a fixed date, and to avoid liability, can they set up defenses against a holder? When? 2. In Sec 52 or is used on the 4th requisite constituting a holder in due course, does this mean that a holder in due course can still qualify as one, if at the time of negotiation he has no notice of the infirmity of the instrument but has notice of the defect of title of the person negotiating the instrument? 3. The holder to whom the accommodation party is liable as provided for by Sec 29 is simply a holder for value. It is established that a older in due course is always a holder for value. Does this mean therefore, that he will be liable to a holder for value although he is not a holder in due course? 4. An instrument payable to bearer can be negotiated either by: mere delivery or indorsement completed by delivery. Will both parties negotiating by delivery and by indorsement incur the same liability? 5. In this example: I promise to pay to the order of B, P500.00. (Sgd) A Suppose at the back of this instrument, the following indorsements appear: Pay to C Pay to D (Sgd) B (Sgd) C, then D indorsed it in blank as follows: (Sgd) D and delivered it to E who placed his indorsement as follows: Pay to O (Sgd) E

Can O further negotiate the instrument by delivery?