BL33 Final Exam 2 of 2 Set B 8 COPIES.docx - BL 33:...

BL 33: NEGOTIABLE INSTRUMENTS LAW and BATAS PAMBANSA BLG 22 (B.P 22)
Comprehensive Examination (2 of 2)
MULTIPLE CHOICE. Read carefully the questions below and choose the best statement
among the choices. Write only the letter of your answer in CAPITAL letters on the answer
sheet provided with the questionnaire. Do not use friction pens. Erasures or alterations
of any kind will not be given points.
1. Roro drew a check against his account with Will Bank payable to the order of Papi for
P20,000. Fifi stole the check, forged Papi’s signature, and deposited the check in his
account with Coco Bank. After clearing, Fifi withdrew the amount of the check and fled.
Who among the following will shoulder the loss?
A. Roro
B. Papi
C. Coco Bank
2. Protest is required in the case of a
3. Who is qualified to be an acceptor for honor?
4. The signification by the drawee of his assent to the order of the drawer.
A. Approval
B. Recommendation
C. Acceptance
D. Indorsement
5. The placing of a date in an instrument is necessary in the following cases, except
6. Which of the following indorsements is a qualified indorsement?
7. Which of the following is not a promise to pay, and thus will make an instrument non-
negotiable?
C. “I oblige myself to pay P”
D. “I acknowledge my debt to P”
8. Which of the following defenses may a party to an instrument avail himself of against
any holder?
A. Want of delivery of incomplete instrument
B. Want of authority to complete an instrument that was delivered
C. Want of delivery of complete instrument
D. Want or absence of consideration
9. The acceptor, by accepting the instrument, admits the following except