SEC.

11-23

1. State the rule on the presumption as to the date.

2. When is date necessary to determine the maturity (but not for negotiability) of the instrument?
3. Is ante-dating or post-dating an instrument illegal? Define, explain and illustrate.
4. When may date be inserted?
5. What is the effect of the insertion of a wrong date in an undated instrument by the holder:
a. With respect to a holder in due course?
b. With respect to subsequent holder in due course?
6. What are the prima facie authority of a person in possession of a mechanically incomplete but delivered
instrument?
7. Enumerate the requisites in order to hold liable a person who became a party to the instrument prior to
completion.
8. What are the rights and obligations of parties in case of wrongful completion?
a. Holder in due course
b. Holder not in due course
9. Will the failure to name the payee affect the negotiability of an instrument? Explain.
10. What are the rights and obligations of parties when a mechanically incomplete instrument is not delivered?
a. As against a party whose signature was placed on the instrument before delivery
b. As against a party who signs the instrument after completion and delivery
11. Explain the nature of contract when a mechanically complete instrument is undelivered.
12. Define immediate and remote parties.
13. State the rules on the presumptions of a valid delivery
a. In the hands of a holder in due course
b. As between immediate parties and as regards a remote party other than a holder in due course.
14. Enumerate the rules of construction where the language of the instrument is ambiguous or there are omissions
therein.
15. May a person be held liable on an instrument although his signature does not appear thereon? Explain.
16. What is the liability of a person signing in trade or assumed name?
17. Give the requisites in order that an agent who signs a negotiable instrument on behalf of a principal may not be
held personally liable to the payee or holder.
18. Define procuration.
19. Explain the effect of signature by procuration.
20. What is the effect of indorsement or assignment of:
a. An infant (Minor)
b. A corporation
21. Define forgery.
22. Enumerate the cases of forgery provided in Section 23.
23. What is the effect of forged signature?
24. Enumerate cases of forgery in general.
25. No title can be acquired to a negotiable instrument under a forged signature except:
26. In case of forged instruments, who are not allowed by law to set up the defense of forgery, and are, therefore
made liable to the holder?
27. Enumerate the rights of parties in cases of forged indorsements
a. Where note payable to order
b. Where note payable to bearer
c. Where bill payable to order
d. Where bill payable to bearer