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  • Quiz1 - Negotiable Instruments

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    roby Hocson
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    The document contains 12 instruments and asks the reader to indicate whether each is negotiable or not. To be negotiable, an instrument must (1) contain an unconditional promise to pay a sum certain in money, (2) be payable on demand or at a definite time, and (3) be payable to order or to bearer. Instruments 1, 4, 5, 7, 8, 10, and 12 meet these requirements and are negotiable, while instruments 2, 3, 6, 9, and 11 are not negotiable as they do not unambiguously meet one or more of the requirements.

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    The document contains 12 instruments and asks the reader to indicate whether each is negotiable or not. To be negotiable, an instrument must (1) contain an unconditional promise to pay a sum certain in money, (2) be payable on demand or at a definite time, and (3) be payable to order or to bearer. Instruments 1, 4, 5, 7, 8, 10, and 12 meet these requirements and are negotiable, while instruments 2, 3, 6, 9, and 11 are not negotiable as they do not unambiguously meet one or more of the requirements.

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    © All Rights Reserved
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    60 views2 pages

    Quiz1 - Negotiable Instruments

    Uploaded by

    roby Hocson
    The document contains 12 instruments and asks the reader to indicate whether each is negotiable or not. To be negotiable, an instrument must (1) contain an unconditional promise to pay a sum certain in money, (2) be payable on demand or at a definite time, and (3) be payable to order or to bearer. Instruments 1, 4, 5, 7, 8, 10, and 12 meet these requirements and are negotiable, while instruments 2, 3, 6, 9, and 11 are not negotiable as they do not unambiguously meet one or more of the requirements.

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    © All Rights Reserved
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    Quiz – The Law on Negotiable Instruments

    Test 1 – Indicate if the following instrument is negotiable or not

    1. Sgd. Maria January 1, 2020

    I promise to pay Pedro or order Ten Thousand Pesos.

    2. I guaranty to pay Pedro or order Ten Thousand Pesos (P10,000).

    3. June 1, 2019

    Due to Pedro Ten Thousand Pesos

    Sgd. Maria

    June 1, 2019
    4.
    Due to Pedro or order Ten Thousand Pesos payable on December 20, 2019.

    Sgd. Maria

    5. June 1, 2019
    I promise to pay Pedro or holder Ten Thousand Pesos
    Sgd. Maria

    6. I promise to pay Pedro or assigns Ten Thousand Pesos


    Sgd. Maria

    7. June 1, 2019
    Pay to the order or bearer the sum of Ten Thousand Pesos
    To: X Signed David
    8. June 1, 2019
    I promise to pay Pedro, bearer, Ten Thousand Pesos
    Sgd. Maria

    9. I promise to pay bearer, Pedro, Ten Thousand Pesos


    Sgd. Maria

    10. June 1, 2019


    I promise to pay bearer, Ten Thousand Pesos.

    Sgd. Maria

    11. June 1, 2019


    I promise to pay Pedro or his agent Ten Thousand Pesos.
    Sgd. Maria

    12. June 1, 2019

    Credit P or bearer Ten Thousand Pesos and I will pay you.

    To: X Sgd. David

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