LAW Nego

ASIA PACIFIC COLLEGE OF ADVANCED STUDIES FINAL EXAMINATION LAW 3 LAW ON NEGOTIABLE INSTRUMENTS

NAME: ___________________________________________ DATE:_______________ 

Items 1-32. State whether the following statements are negotiable or no t. 1. I promise to pay X or order the sum of 200 on Oct 1 201!. Sgd. " 2. I agree to pay X or order the sum of 200 on Oct 1 201!. Sgd " 3. I oblige myself to pay X or order the sum of 200 on Oct 1 201!. Sgd " !. I commit to pay X or order the sum of 200 on Oct 1 201!. Sgd " #. I shall pay X or order the sum of 200 on Oct 1 201!. Sgd " $. I will pay X or order the sum of 200 on Oct 1 201!. Sgd " %. I ac&nowledge that I owe X or order the sum of 200 on Oct 1 201!. Sgd " '. (ay to X or order the sum of 100 and reimburse yourself from my salary. salary. Sgd " )o* )o* + ,. (ay to X or order the sum of 100 and debit the amount from my bonus. Sgd " )o* )o* + 10. (ay to X or order the sum of 100 which is payment for the shoes I purchased. Sgd. " 11. (ay to X or order the sum of 100 from my allowance. Sgd " )o* )o* + 12. I promise to pay S or order the sum of 100 on demand. Sgd. " 13. I promise to pay S or order the sum of 100 at sight. Sgd. Sgd . " 1!. I promise to pay S or order the sum of 100 upon presentation. Sgd. " 1#. I promise to pay S or order the sum of 100. Sgd. " 1$. I promise to pay S or order the sum of 100 on ecember 1' 201!. Sgd. " 1%. (ay to S or order the sum of 100 30 days after date. Sgd. " 1'. (ay to S or order the sum of 100 30 days after sight. Sgd. " 1,. (ay to S or order the sum of 100 on or before Oct. 1 2012. Sgd. " 20. (ay to S or order the sum of 100 30 da ys after the death of . Sgd. " 21. (ay to S or order the sum of 100 30 da ys before the death of . Sgd. " 22. (ay to S or order the sum of 100 30 days after he graduates. Sgd. " 23. I promise to pay S or order the sum of 100. Sgd. " 2!. (ay to the order of myself the sum of #00. Sgd. " 2#. (ay to the order of yourself the sum of #00. Sgd. " 2$. (ay to the order of  / and  the sum of #00. Sgd. " 2%. (ay to the order of  / or  the sum of #00. Sgd. " 2'. (ay to the order of the (resident of X orp the sum of 1000 1 000 on ugust 1 201#. Sgd. " 2,. (ay to bearer the sum of #000 on demand. Sgd. " 30. I promise to pay ( or bearer the sum of #000. # 000. Sgd. " 31. (ay to the order of S 10000. Sgd. " 32. I promise to pay to the order of (ablo (atricio the sum of 10000. 10000 . Sgd." t the bac& of instrument (ablo (atricio ( atricio merely signed as follows. Sgd. (ablo (atricio

FILL IN THE BLANKS

Items 33-!#. Identify what defense is applicable with the following infirmities or defects. rite ( if the answer is (ersonal efense and  if eal efense.  444433. ant of deli5ery of incomplete instrument  44443!. 6orgery  44443#. 6raud in inducement  44443$. bsence or failure of consideration consideration  44443%. "inority  44443'. 6illing up of blan&s not in accordance with authority gi5en

 44443,. Insertion of a wrong date  4444!0. 6raud in factum  4444!1. ischarge  4444!2. c7uisition of signature by force or fear   4444!3. 8egotiation of instrument by breach of faith  4444!!. Illegality of contract  4444!#. uress amounting to forgery TRUE OR FALSE  4444!$. n order or promise to pay out of a particular fund is not negotiable..  4444!%. n accommodation party is liable on the instrument to a holder for 5alue notwithstanding such holder at the time of ta&ing the instrument &new him to be only an accommodation party.  4444!'.  signature by 9procuration: operates as notice that the agent has but a limited authority to sign and the principal is bound only in the case the agent in so doing acted within the actual limits of his authority.  4444!,. n antedated or postdated instrument is 5alid and it does not lose its negotiable character ;ust because it is antedated or postdated pro5ided this is not done for an illegal or fraudulent purpose.  4444#0. n instrument where no time of payment is e  b. (ay to  %000 and / the balance =amount of the instrument is (10000> c. (ay to  ('000 out of the instrument of (10000 of this note d. (ay to  and / (10000 #2.  bill of e d. (ay / or order (20000 out of my money in your possession #'. hich of the following is not necessary in order to ma&e an instrument negotiableA a. It must be in writing and signed by the ma&er   b. It must contain an unconditional promise or order to pay a sum certain in money c. It must be payable on demand or at a fi c. I promise to pay ( or order (30000 on Eune 30 =Sgd "> d. I promise to pay ( or order (#000 =Sgd "> $0. older  altered the amount of negotiable note from (10000 to (110000 then negotiated the note to (. a. If ( is holder in due course he can re7uire the ma&er to pay (110000  b. If ( is not a holder in due course he can re7uire the ma&er to pay only the original sum of (10000 c. ( cannot re7uire the ma&er to pay because of forgery whether or not he is holder in due course d. ( can collect (10000 if ( is a holder in due course $1. " ma&es a note for (3000 payable to the order of (. ( negotiates the note to  who with the consent of ( raise the amount to (30000 and thereafter endorses it to / / to  and  to  who is not a holder in due course. In this case a. / can reco5er (3000 as against "  b.  can reco5er (3000 from " c. ( and  are liable to  (3000 d. / and  are not liable to  $2. n instrument which is originally negotiable ceases to be negotiable when a. estricti5ely indorsed c. )he last and only indorsement is blan&   b. Fualifiedly indorsed d. 8one of the abo5e $3. )he instrument is non-negotiable when a. )here is an indication of a particular fund out of which the reimbursement is to be made  b. )here is an indication of a particular account to be debited with the amount c. )he instrument is payable out of a particular fund d. 8one of the abo5e $!. n indorsement where the indorser adds the phrase 9without recourse: a. /lan& b. estricti5e c. Fualified d. onditional $#. On "ay 1 oug signs a chec& that is payable to the order of @