CPAR CPA Review School of the Philippines ‘Saturday, September 10,2016 ‘FINAL PRE-BOARD EXAMINATION Regulatory Framework for Business Transactions 4:30AM to 7:00PM arco: ‘Choose the BEST answer for cach ofthe following items. Mark only one answer foreach tem on the Special Answer Sheet provided. Strictly no erasare allowed. 1 Which ofthe following isnot negotiable under the negotiable instruments law? 2. One is not negotiable anja to or onder P20, 00 (SB MD To. A Accepted and pyabe 60 days fom today. 7) 1, Pay othe order of 1P20,000 (Sud E) Ml TON Aceped for P1000 . PayioP or order 20,00 (Set) ToC Accepted if tos th CPA board exams 4. Payio P1000 30 day afer sight (Sed) oH Acceped payable on O27, 2014 2m omits to pay tothe order of B PI,000 with 12% intrest thereon wie the period from whic, inerest sto be countedis not specified. e b, A omiss to pay tothe order of B P1000 in four monthly installments beginning June 12, 2016 with pepo that AA defo inthe payment of ary fosalment, te etre balance inchading the unpaid | {installment shall become due and demandable A promises to pay to the order of B the sum of USS1,000 payable in pesos atthe rate of exchange prevailing on Jamuary 1, 2016 >) ia 4K promises to pay to the order of B P1,000 with an agreement to pay atoneys fest and coms of eollestion. yc full se bob1 Awomissry note eas promise pay there of BPI, 00, 3998 “planed ne promissory ot 10 B who indo iC, The At oe ea ToD end DE and Eo, cs Bader fer date. Se A 1X soe the not rr C forged the signature ible, can collet fom 5? ot. a cs A was compete and delivered Ess sgt Ais eine ane imine Fes ect oct arc gue onda itv an bso FE soawer ae oes wer const cod i TONE Bokaro ore one {Lats wag, soon comet Suesions tc om A mati? ree dishonor to all the parties secondarily | Eanes psn he prone aie of Using the prceding no | cars PEE sect fom C1 2 Agint whom can collet? 1p SE Reae c's senna oc insonent at or fie i wal nope Nope faa cir D or E beet thir snares ae genuine and she instrament Becomes patie saint hem ‘4 Both answers are coect «Fest is coret, second is wrong. {Eft wom second is eomest a | 9, A datvesto Ba promissory mots payble she oer of B without specif Bs place the atu of S00 nthe promisusy aut wach wat signed by A. B, in velaton ofthe {ttbtion of A placed P3000 gs he wcunt posh, Later 8 indored the note to C, te Boer (C2 Can recove fom eer Aor B 1. Cannot recover rom ete Aor ihe know the defect |e: Cannot recover from A but can recover fom B if he knows the defect | Cannot secoer om A bul cun recover ftom 8 fhe dos rat iow the defect | 1.4 made promis) ae pte he od of Adve iB wo manned a CC dere | 1° Sotto oe yun nde to rin te ol, Fe |, acto who detrei insramen Which scones? cad PE reanbottB and abl but aD 0d Slee [/b Reanhold D and F lable but not Band C oe Oe ict Disindorsmen passes de to Eand Faking D able os indore 4 Feantold allindosers lable exc D 11, Ones it canon te lend coune eT ple plc pn ce That he ssmme thle of blr vs vei and witout nate tat C0 Seti ey rm Thr atts une itm negotiated hin thas‘Review School ofthe Philippines | Saturday, September 103016 is induced through : imple fraud | . fs (fraud in inducement) committed by B to issue a promissory note in favor Heder endo! te noe oC. Chas noe of od bu dnt ptm C nde th eo D8 nu course, D indorsed he oe o£ wo lows how te oe as Sine at wiht eg & 1 Party to the fraud, Which is correct? is) Nota holden du cous andthe dfs of iain inducement canbe set-up agit hi ‘bolderin dc coun having dred i ie fm Dahle nae couse olen du couse tube ana eeove om A bce be know hw the ote was one D Ya "Not holder in due course but has all rights of such holder in respect of A, B and C having derived his tie fom D 2 - i laa romeo pay 8 rr 200000, 30 dys i da Se A Te ie amir one was ued 2 by A to B on Feb. 8, 2016 for the Lancer car sold by B to A. A few days Inter, Feb. 15, 2016, A was Spied ote ca ens itt urs ble ctl he te ot war ale revert om A ‘OnFeh 25016 3 septited x promi) pt 9 Teams 30% pylon Fe. 3 2016 ad the fens of 00.50 icon R028 2016 pte PI00000 on Pech 23 2016 agen spon On FungT le, lated bwin esietn betwen A ad 8. Des sch Knowles C paid 5) theP10 00 fare one, 2.201 On matty of i mstamet, [) SCCM Piotr seme hanes hl recuse pr nla of he fell seeconien ‘Geant cle terse is nly dr for avedad As psn fe anor nds curt ean il cles P0000 fan A eos ote was cpt Biter Enon oft owed comin 4. Geant only fr P100200 14. The note reads as follows: p- patty = b “a makes note pyabe ote oe of B, The ste i inked successively by B19 C, Cw D, Do and E ) “to, te present ole Suppor the ns shone in stands of, whch of he allowing 4 fF gees nice only oD, he notice operas aoe oE pty subsequent oD Cf & teater aving been given notice by F, ves notice to Eth effxt would make E stil ible tothe inseument Eves psc FE may noi B, Cand Dac -0-