94. Which of the following items would rendered the instrument non-negotiable?
With stated installment
With order or promise to do any act in addition to payment of money.
With cost of collection if the instrument is not paid at maturity.
95. The instrument read as follows:
Pay to the order of X P100,000.
Which of the following is not a valid negotiation of the instrument?
96. Statement 1: A transferee of unendorsed instrument payable to order cannot be a holder in
Statement 2: The only disadvantage of a holder who is not a holder in due course is that
the instrument is subject to defenses as if it were non-negotiable.
97. Statement 1: When the instrument is overdue and unpaid the instrument is deemed
dishonored by non payment.
Statement 2: When the primary party liable on the instrument is willing to pay the
instrument, the instrument is not deemed dishonored.
98. Statement 1: The acceptor by accepting the instrument engages that he will pay it
according to the tenor of the instrument.
Statement 2: The maker may insert in the instrument an express stipulation negativing or
limiting his own liability to the holder.
First statement is true; second statement is false.