aD Oo The effect of autte- calinn w pat-daling a Manabe inthument does not renter it invalid or _non-ragobnble, pouded this not Aone pc on itegad or frond leet. puypirta will be_prima faut rhe tue. dale. it napoli before 0 ofl te dale given ot bang a if he nik naga flr I toe a. Wun a negotiable instrament ic undaltd, under whal instances can te holdec Insect te trat dale of issue of accep pana? The holder cam insect the tre dove of Mrsue or acepfance under_tw0 (2) insknasi_o4 poricled for by Sec. (3 of He WIL! (a) vhert om instrument ic peyabl ata fired prod affer date wight but is fesutd uadaltd; and (6) whure on invbranent ft payable ata fru perod ofke sight Wit he acaphanee it undaled. 3. Whot are he nights we holder 4 a regahiable nah nshument which was Athirertd incomplete and subregueantly comjeleled? Tha rights ofa holder of a nepohabl inchrament which ddbirertel incomplete and subsequently completed a, prviclea for by Mec. A of hllare: (a) holder or Porton in portettion hos prima faut auihonty, 7o ___Grmaplety an heomplety in Shument by filing Up te Hanks Herein; or (6) prima fouit aathity b fill it up 04 guch f& ony annette: Scanned with CamScanner—————————— ® 1. had vee rights fa hala of 0 undelieedincomplele raga tiante instumlat which wos nithenct uskhonity cubrequedby dived and completed? The tights of a holder ofan undebirered ncemplelt, negatiable inghument rich wees vith auitherty cubes —_ dabiered ard completed, at prided in chon IS of fe Neg Ge) rigid 0 tal fens etn operat « holder fe ut Corte) or eneaeee () right to defense owoilabee te actor prior to Aebiey. © What ore the nights of a hotdur of an undebirered Complete gah instrument which nas delivered vathout authority? Beholder of an undllinred conele negotiable pases! uth was delivered rithood coutbarity had Ke night to veveke i until ike oeivery for He purpore of giving it effect g Uhat a the nbs of condtuction where o negehihl inshanen? 16 ambi guarecs ? : ae As pauides for by Sechon (7 of He Negotiable lnitrumbats Lowy the fallowing art tke niles of omstruttionghere a regohable instrumend if uni guows : aaa (Ca) wert He. saan payable tf expresrel in worcla and alto tn fiquces and there ir or discetpanty between th tH, He cum denoted ba the wonls 1 Re un poyable; bd he ror at cigs wncte ference May be koxd to the figures ffx the ambuat; (6) there the inrtrument pouclot fir the payment ofinkerest; without specifiy Reale fom whi ate fo can, the intrest runs fom He oR of he instumer- Scanned with CamScannerif pie, Wert (0). where Pe instument is not dalid, 1t wif) pe consilored tebe dalid os of He tine it was jerusd: (A) where ere is a compiict betrecn the nmitten cand printed] pmicions of He inshunpesl, Ho wmntten proinont proves; _ (©) whure He Insburont is so eniqneoses that artis cowl whether if Ara bill or natt, the holder may preatif ar cither i at his election; : (f) here a signatore is 0 peed upon the snstrunnend Hhsit 1 ts af clear ia what capacity the perton mating the vame intended fosign, be is ¥0 be oleemed an inkorser) | @) where an Instrument containing Me word "1 prnaie he pag “ is signe by tan of ruert. pervs, Hey art oleamed b¢ yolntly and vorecally liable thereon 7 Who are the perros liable on o negohable inrtument even 7 «their signatures do nat appear Hereon ? As provided by the Wegotiatts Intfrynantt baw, The perone linkle 1m a regahiable intrarneat even if Keir vignontores do not appear Tereon ot as follows? (a) whe a peton signs in q trace or avtumed name; (0) the prngpod Yak if a oluly authenized agect cigns am hit oun behalf ; (0) ia case +f forgery te forgur is lable exenif hic signchere does not appear gn the inehument; . (A) whore the accept malkes Wu's accyotence of 2 bill m a separuke pager; oad (€) ochert o Ptrton Makes o wtititn ponmice ® accyeh @ vill hefire_it is drawn. Scanned with CamScanner@ 2 What art. te requiritts for an capped to escape poser Liability when fy digned for bis pancipal? Ar pouided toy dechon 39 of He Wegehickl Inehrmend Law Re eisites foran agent to cacope peared liability who signs fe his porcipal are os follows (a) be is austherired; 1 (0) he adds words 1 bas elgnadct indicating root he Sgn { od an oat, Had I for or om behalf 0, a pinapal, orina repreventadtire capadaty, and ©) he discloves ht principal, 9. what is fer prcuredtion? Preuralion ic olefined os the act by wubich a prinojpel nes power p another te act in bt place ag he could ¢ himself. 10. What are He effects of an sidoreement by infocnt corporation 2 A provided by Sechon #2 he Wegutiabte Inttryments Law, the fet 4 an inclortemenl by iafead ar eeqporetion art ad follrws: (a) the indoreemeat of aa infant te nat reid ad Hal bis boapeuity is nota clofense_n fauor of prov pacts, onal oles nok jake aura te infants right b dicaffion Mix indosenunt and reaver He nstumunt wen aginst oa jnnount ndoreee or subsequert hotdloe for voli; (b) He indertemetad bya conporation, '” cated where te corporation hes comnuitttd ultra vina gots w acht beyond ifs pewens, may incur no liability Berton. _ - Scanned with CamScanner© lactnanent? Aecorig b ten 4 yf Be Nepiott bthunerds Het, ¥ Petzon_w! TL wsperb h fe £73 vthatly ineperatie, hn taht # robin se intrumsed or togire 0 Mihaye ae Herefor or toforca pryment thereof egainst 2% ty Hoty can be acquired foreh ar sae_ th wynabe, wales te int ribet Hs sought enforce mek ott 1s ne fn etliny op “he forgery or Mant of authority. 1a. What 15 the presumption fefacching cotter when a negrtiably inttroment it Kesued? Acwarding 10 Lectin 24 of he Negotiable dnspraméents Law, jable, instrument if Aeemed prima facie to have. been jcsved for a valuable consicuention; oad ererg perren nhoze srgralire gppeces therton & have bevome 0 on pact fhectt for vedbur. 3. What comsbhelts value? As_peraided for in Settion Ff she Negotrable Tashurrants Law, value is ony tonsiobratiin sofpeient te suygoort a vind contrac fn anttcectont or pre~ existing Abt tonchintes aloes and ic cleemed such wheter He inshument ic payable on cemend or at a flue time Scanned with CamScanner6 | W. What conatinits hotdor for vali? According Stctin Uo of He Neyoreble Inshuments Law, where vale has ot me bn giten for te Instrumert, the _hotder ic deomed a holder for rabes_in regret fo alll pac fits who become such prior to thet hme , comstibates a busteler for ralns- : Is Gohad is te effect of want of amsderatin? ection 20 of He Negehiable instuerds Law provides lee He let of vant ff contiduntion + absence ot failure ‘of contideration 1 & matter of dafonse as againch any pecron pata helder in due nurse, and poctinf fheture of ernaidlyabion isa Athens pro tonto, whether the failure i¢ an accerfuired and liquiattd amount or arnt: Ig. Who it an accompnodation pact ia Aesording to _Sechen 29 of the Negotiable ifrunenft law, _aa_axsommadotion party it on€ whe hos sigoed ke Instrument os maker, drawrr, acceptor, of indarver, without receding valet thelr, andl for the puspore of lenoling his name po sore other _pervon. 1 had is The Uability of an accommoctain party? Ausorching to Section 29 of te. Megotiobs Instrumtage Lou, te aa accommodation party is Uakle om te tAStumont fe @ holder for value, notwithstanding uch heldor cit the tue of feting rhe Instrument Kaun Kin to be only an acrommodation pasty. Scanned with CamScanner1g. What is negotiation? Aewnrcking 40 fection 80 of ho Negotiable bnttrements Lau, On instrument is negotialed when it 13 tansfrtd fom mme_peven fe anther in cuch manner ag b corshifules the peonsoce Me holder Hareof. 19. How is a negotah instrument pegotialed? Aewerling to Section 50 of. Be Negeliatle inspresmunds Lou eke to bear Ke inthument if re gofiakd by ddbiveey) if te order, the instrument 1 negobiated by the indorvemted of the holder ond completed by chebivty. 20- “(promi te poy Por order th sun of (Sad) Mn bP authenrin an the blank f20,000.00 bit ? fic in te anveunt of Pl00, 000.00. FP negotiates the note to A, how much can 4 coltect fam ™: explain. Te amount A can wallet from N olypends if A fea haldtr iin clue coun. If At a holder in clue wurte, A can collect He [1o, gv0-00 fomn_M in pursuant fe Section 4 ofthe MIL_ where th yproviclts Yhaf- if any such instrament, aftr completion, is negotiated fa halder in dut ours, is valid and eflectuas for all pusporta in bic hands, ancl ke may erfone it as if ithadl been filed up strictly 9 accordance with the auitkerity Gren and within a reagonable tine. However If A is pot a halder in due wurgt, 4 cannot collet einy amonat fram for shovceaaffccatvident the raft woul btcome vord 24 the amount file in by P was jot auttrinedl ty MM, the maker: and cannot be enficed, Scanned with CamScanner——$} teawtoe data mt pay D. form rthoms cum D caltch? Ciplain. > Wo, P cannot enfere he inshument against drasler dection Uf of he Nik_pnvicls spevfically tat Ke instrument is not a valid contrat in te handd of any halter, including @ halder in clue Court. The sioncturt of he drawer nad placed Hereon before aldjvery, Hovtlrre dreaver does nob mscume ang cexporabilly- Dey eet fan Th, 6, nd fe they ce inclensece of He _____inthrumead, Ioction: GL oud 66 prvidy thd as (nclorvers, We instrament ic fenmine andin all respects what it purport fo be and sine their signatures appear on the instrument after he dedirery, fhe instruments ralid fr Hem 22. MM makes 4 complete nate in favor of P and keeyas if Platte om knew about jhe note and salt 2 Hen ndarses rkenafe fA APE BRC CHD and DWE, Hho frown Mat P stle Me nroft. Whe art the rematt and immediate packes? plain. MA, Bland Dart remat parties for they art not in iret contractual relation 1 ach other apd! do not know He concutions or limitations placed upon the olttiery of te instrument Pond E are immectiate partes fbr they Know the conditions ancl _____Wanitartions placed upon the debireny of He instrument and kag ferandledge, or nuatice of any Infienaitits in the inStrumynt or dafect in the Htte of person Seaviating Scanned with CamScanneradler Section 23 of fhe Nik, when a signature is forged or male without auttherity of Be porvon whore signature ch popped iti 2 ? ight te rekuin ——lathrtoat, oto girt a disthacge Kact for pr te tenferee ——prymmuat trey apaindl any pacty Koctie, cam be acguind —tharugh_o_undya_eush cignatut, units the pasty ageuistt Letting up the forces at of asstharity: In the case at bay D caunot eakeces the nott act Db ——Atcauset the tyaatiat of Ml wae forged ax made witheu Ub austharity, thisa renduing it inoperative. Howewe, D rt sae te nale igen FB -nnel —allas tigaatat —_oppptcer_on fe nope offer Ahir ——_idsfrumunt—and such instru nen) ay bo for He_instrument i genuine and jn oll respeeds whet if pepo fo be et pontdled fy ia Keeton 6S and 66 of He NIL» Scanned with CamScanner