Professional Documents
Culture Documents
19. The following are exceptions to the general rule that only
persons who sign the negotiable instrument are liable thereon, except:
A. Agent who fails to disclose his principal
B. Written promise to accept a bill before it is drawn
C. Acceptance of a bill on a separate paper
D. Persons signing under a trade name
31. They are parties who are not in direct contractual relation to
each other.
A. remote parties
B. immediate parties
C. Drawers
D. Holders
38. The act by which a principal gives power to another to act in his
place as he could himself.
A. Allonge
B. Forgery
C. Procuration
D. Issuance
39. Statement I: A due bill is a special type of bill of exchange.
Statement II: Acceptor is a drawer who accepts a bill of exchange.
A. Only Statement I is true
B. Statements I and II are true
C. Only Statement II is true
D. Statements I and II are false