very difference of legal writing and business writing is the footnotes. There are many footnotes needed in legal writing compared to business writing. When it comes to business forms and legal forms. An example of business form of writing is the promissory notes‚ acceptance letters and the like. As for legal writing‚ most legal writings contain court decisions‚ legal researches and writings about law. Sources:
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the distribution and printing of the 95‚000 posters would be made‚ that Pecson gave Moran P10‚000 for which the latter issued a receipt; that only a few posters were printed; that on or about May 28‚ 1971‚ Moran executed in favor of Pecson a promissory note in the amount of P20‚000 payable in two equal installments (P10‚000 payable on or before June 15‚ 1971 and P10‚000 payable on or before June 30‚ 1971)‚ the whole sum becoming due upon default in the payment of the first installment on the date
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22.10 Does the reference to the mortgage in the note cause it to be nonnegotiable? 1. Answer: Holly Hill acres Ltd purchased the land from Rogers and Blythe. Holly Hill issued a promissory note for the mortgage to Rogers and Blythe‚ months later Rogers and Blythe got a loan from Charter Bank of Gainesville. In order for Rogers and Blythe to secure the loan they got from Charter Bank‚ they supposed to transfer the promissory note from Holly Hill‚ which made Rogers and Blythe defaulted on the loan
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13 of the Negotiable Instruments Act states that a negotiable instrument is a promissory note‚ bill of exchange or a cheque payable either to order or to bearer. Negotiable instruments recognised by statute are: (i) Promissory notes (ii) Bills of exchange (iii) Cheques. Negotiable instruments recognised by usage or custom are: (i) Hundis (ii) Share warrants (iii) Dividend warrants (iv) Bankers draft (v) Circular notes (vi) Bearer debentures (vii) Debentures of Bombay Port Trust (viii) Railway receipts
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granted a loan in the amount of Php 700‚000.00 with interest of 24% P.A. for which they executed and delivered to Town Savings Loan Bank a promissory note with maturity period of 3 years and with acceleration clause. Thy defaulted‚ subsequently‚ demand for payment were sent to them. The Hipolitos denied being personally liable on the Php 700‚000.00 promissory note which they executed. The loan was allegedly for the account of Pilarita H. Reyes‚ the sister of Miguel Hipolito. She was the real party-in-interest
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Instruments 5. Promissory Notes 5.1. Characteristics of a Promissory Note 5.2. Specimen of Promissory Note 6. Bill of Exchange 6.1. Definition of Bill of Exchange 6.2. Characteristics of Bill of Exchange 6.3. Specimen of A Bill Of Exchange 7. Cheque 7.1. Definition of Cheque 7.2. Essential Elements of a cheque 7.3. Specimen of a Cheque 7.4. Types of Cheque 7.5. Dishonor of Cheques 7.6. Five Ingredients of the offence 8. Difference between Promissory Note and Bill of Exchange
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accepts the check as payment. a. I‚ II and III b. I‚ II and IV c. I and II d. All of them 2. M issued a promissory note to payable to the order of P. P indorsed it specially to A. Without the knowledge of A‚ X took the note and forged A’s signature and then delivered it to B‚ who specially indorsed it to C‚ C to D‚ D to E‚ and E to H‚ a holder in due course. Against whom can H demand payment of the note? a. B‚ C‚ D and E because their signatures appear after the forgery b. M and P because their signatures
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Act‚ 1881. It is an Act to define and amend the law relating to promissory notes‚ bills of exchange and cheques. The Act does not affect the custom or local usage relating to an instrument in oriental language i.e.‚ a Hundi. The term "negotiable instrument" means a document transferable from one person to another. However the Act has not defined the term. It merely says that "A .negotiable instrument" means a promissory note‚ bill of exchange or cheque payab1e either to order or to bearer
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ReSA The Review School of Accountancy Tel. No. 735-9807 & 734-3989 BUSINESS LAW Atty. Marcelino S. Bonafe Jr. QUIZ- NEGOTIABLE INSTRUMENTS LAW (PART II) MULTIPLE CHOICE 1. A negotiable instrument must contain a promise or order to pay a sum certain in money‚ except a) Which must be payable to order or bearer b) That must be in writing c) Which must be an unconditional promise or order d) The payee must be identified 2. The following are the functions
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1. INTRODUCTION 2. EVOLUTION OF NEGOTIABLE INSTRUMENTS 3. WHAT ARE NEGOTIABLE INSTRUMENTS 4. NEGOTIABLE INSTRUMENTS ACT‚ 1881 5. TYPES OF NEGOTIABLE INSTRUMENTS 6. CHARACTERISTICS OF CHEQUE‚ BILL OF EXCHANGE AND PROMISSORY NOTE 7. DISTINGUISH BETWEEN 8. EXCEPTIONS 9. SECTION 134 TO 137 OF AN INTERNATIONAL LAW 10. DISHONOUR OF NEGOTIABLE INSTRUMENTS 11. REVOLUTION OF PAYMENT SYSTEMS IN INDIA 12. CURRENT SCENARIO OF NEGOTIABLE INSTRUMENTS 13.
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