1. Define negotiable instrument.

2. Enumerate the functions of a negotiable instrument

3. Is negotiable instrument considered as legal tender?
4. Who are the parties to a negotiable instrument?
5. Distinguish a negotiable instrument from a non-negotiable instrument.
6. Enumerate the requirements for an instrument to be negotiable
7. If the instrument does not express the date of maturity, when can the holder
demand payment?
8. When is an instrument payable to order?
9. When is an instrument payable to bearer?
10. Is the negotiability of a bill of exchange affected if drawees are named jointly?
What if the drawees are named in the alternative or in succession?
11. State the rules on construction of ambiguities in negotiable instruments?
12. Enumerate the requisites of a holder in due course?
13. Discuss briefly the SHELTER PRINCIPLE.
14. Distinguish a real defense from a personal defense?
15. Enumerate the defenses that may be set up against a holder and classify whether
it is real or personal.
16. Elucidate the effects of an incomplete but delivered instrument
17. What is the effect of an incomplete and undelivered instrument?
18. Cite the statutory bases for complete but undelivered instrument
19. Discuss the effects of forged signature.
20. Enumerate the parties precluded from setting up the defense of forgery
21. Discuss the CUT-OFF PRINCIPLE in forgery of order instruments.
22. Discuss the legal consequence when a bank honors a forged check
23. Explain material alteration
24. Is the alteration of the serial number of a check deemed material?

25. What are the liabilities and warranties of the parties to a negotiable instrument?
a. Maker
b. Drawer
c. Acceptor
d. Qualified indorser and persons negotiating by delivery
e. General indorser
f. Accommodation party
26. May a corporation act as an accommodation party?
27. Differentiate how an order instrument is negotiated from that of a bearer
instrument
28. Illustrate the effect if:
a. An order instrument is not indorsed
b. A bearer instrument is specially indorsed
29. When is an order considered restrictive?
30. In what instances is presentment for payment necessary? Conversely, when is it
not required?
31. When is presentment for acceptance mandatory? When it is excused?
32. Discuss the concept of acceptance and enumerate its requisites.
33. Explain constructive acceptance.
34. Expound on notice of dishonor. May it be given orally?
35. How is negotiable instrument discharged?
36. When are parties secondarily liable, discharged?