Promissory note Essays & Research Papers

Best Promissory note Essays

  • promissory note - 1190 Words
    Definition of 'Promissory Note' A financial instrument that contains a written promise by one party to pay another party a definite sum of money either on demand or at a specified future date, a promissory note typically contains all the terms pertaining to the indebtedness by the issuer or maker to the note's payee, such as the amount, interest rate, maturity date, date and place of issuance, and issuer's signature. The 1930 international convention that governs promissory notes and bills...
    1,190 Words | 4 Pages
  • Promissory Notes - 399 Words
    It’s a New Car First before I address the question, I want to know what dealership or car lot would let a potential customer borrow a car for a week to decide whether she or she likes the car, and if there is such a car lot that does where it is? Now to answer the question, the instrument that is used here is called a promissory note, meaning I promise to pay such and such amount by this date. In this particular case the document that states: “I promise to pay to the order of Bob’s Auto...
    399 Words | 1 Page
  • Promissory Notes - 1305 Words
    Promissory Notes Section 4 - Promissory note[6] A “promissory note” is an instrument in writing (not being a bank-note or a currency-note) containing an unconditional undertaking, signed by the maker, to pay a certain sum of money only to, or to the order of, a certain person, or to the bearer of the instrument. A promissory note is a legal instrument (more particularly, a financial instrument), in which one party (the maker or issuer) promises in writing to pay a determinate sum...
    1,305 Words | 6 Pages
  • essential requisites of a negotiable promissory note except
    1. The following are essential requisites of a negotiable promissory note except a. must be written and signed by the drawer b. must contain an unconditional promise to pay a sum certain in money c. must be payable upon fixed determinable future time. d. must be payable to order or bearer 2. Which of the following is not an essential element of a bill of exchange? a. must be written and signed by the drawee b. must contain an unconditional promise to pay a sum certain in money c....
    2,011 Words | 9 Pages
  • All Promissory note Essays

  • Notes Receivables - 772 Words
    NOTES RECEIVABLE * Represents claims for which formal instruments of credit are issued as evidence of debt, such as promissory note. The credit instrument normally requires the debtor to pay interest and extends for time periods of 30 days or longer. Notes receivables are considered current asset if they are to be paid within 1 year and non- current if they are expected to be paid after one year. NEGOTIABLE PROMISSORY NOTES * Unconditional promise in writing made by one person to...
    772 Words | 5 Pages
  • Notes Receivable - 349 Words
    CHAPTER 7: NOTES RECEIVABLE * Notes receivable are claims supported by formal promises to pay usually in the form of notes. * A negotiable promissory note is an unconditional promise in writing made by one person to another, signed by the maker, engaging to pay on demand or fixed determinable future time a sum certain in money to order or to bearer. * Maker is the one who writes the promissory note promising to pay another person, known as the payee, a definite sum of money. *...
    349 Words | 2 Pages
  • Discounting of Notes - 1415 Words
    ACTG101 – HANDOUTS FINALS – TRANSACTIONS INCLUDING NOTES Definition of Terms * Notes receivable – claims supported by formal promises to pay usually in the form of notes * Negotiable promissory notes – an unconditional promise in writing made by one person to another, signed by the maker, engaging to pay on demand or at a fixed determinable future time a sum certain in money or to bearer. * Dishonored notes – when promissory note matures and is not paid. This should be removed from the...
    1,415 Words | 14 Pages
  • Notes on the Law of Negotiable Instruments
    Examples of negotiable instruments A commercial paper is an instrument which embodies contractual rights, and the possession of the instrument is required to enforce those rights that are contained in it Although negotiable instruments (eg bills, cheques, promissory notes, certain bearer debentures, bonds and share warrants) are categorised as commercial paper, not all commercial papers are negotiable instruments. Examples of commercial papers which are not negotiable instruments include bills...
    1,455 Words | 5 Pages
  • negotiable instruments lecture notes
    NEGOTIABLE INSTRUMENTS LAW DEFINITIONS: 1) PROMISORY NOTE – It is an unconditional promise in writing made by one person to another, signed by the maker, engaging to pay on demand, or at a fixed or determinable future time, a sum certain in money, to order or to bearer. (Sec. 184, NIL) 2) BILL OF EXCHANGE – It is an unconditional order in writing, addressed by one person to another, signed by the person giving it, requiring the person to whom it is addressed, to pay on demand, or a fixed or...
    4,654 Words | 18 Pages
  • Course Notes Negotiable Instruments
    Sec. 122. Renunciation by holder. - The holder may expressly renounce his rights against any party to the instrument before, at, or after its maturity. An absolute and unconditional renunciation of his rights against the principal debtor made at or after the maturity of the instrument discharges the instrument. But a renunciation does not affect the rights of a holder in due course without notice. A renunciation must be in writing unless the instrument is delivered up to the person primarily...
    4,382 Words | 14 Pages
  • Quotation and Research Notes - 622 Words
    SPH107: Basic Public Speaking Directions: Choose the answer that best completes Reading Quiz each of the following items. Mark your Chapter 6 answers on the answer sheet provided. |Which of the following is not a true statement? |Periodical databases _____. | |As your textbook explains, when you locate an abstract of a |Catalog articles from a large number of journals and magazines |...
    622 Words | 3 Pages
  • The Lost Art of Thank-You Notes- Randy Pausch
    “The Lost Art of Thank-You Notes” It has become unfortunate that something as simple as a thank-you note has been slowly forgotten and less prominent to the point that when one is actually received, it almost seems unusual. I believe Randy Pausch was correct when he said, “Showing gratitude is one of the simplest yet most powerful things humans can do for each other.” The thank-you note is old-fashioned, simple and personal at the same time. Nevertheless, the emotion and gratitude that the...
    712 Words | 2 Pages
  • Mba503 - Cash Management - 1091 Words
    Cash Management Businesses must understand cash management for it to be effective. Financial goals will be harder to achieve without a proven structure. It is possible that goals are not achieved, and it can be seen that cash management may have taken part in it one way or another. It's the fundamental building block of financial planning. There are various methods of short term financing can also be essential to a successful businesses. This paper will describe cash management and short term...
    1,091 Words | 3 Pages
  • Form and Content - 661 Words
    Chapter 24--Form & Content -Negotiable instruments (instruments): drafts, checks, promissory notes, and certificates of deposit. -Utilized in the sale of goods and services as well as financing businesses. The use of negotiable instruments has increased to such an extent that payments made with these instruments, checks in particular, are now many times greater than payments made with cash, which now is used primarily for smaller transactions. The utilization of checks has decreased...
    661 Words | 3 Pages
  • GA 3 Minutes - 309 Words
    GA-3 Prepared by: Reviewed by: Apollo Shoes, Inc. Relevant Matters from Minutes 12/31/11 Information Relevant to 2011 Audit Audit Action Recommended January 05, 2011 Sales expected to increase 10% Note for Analytical Procedures COGS and expenses remained constant Note for Analytical procedures Authorized purchase of $1.3 million in equipment Vouch supporting document and trace to PPE schedules ST Note was refinanced to LT Note payable Note info For audit of notes payable...
    309 Words | 2 Pages
  • Negotiable Instruments Act - 2661 Words
    LEGAL ASPECTS OF BUSINESS Submitted By P.Sivaranjini I MBA ‘b’ Surya Group of Institutions NEGOTIABLE INSTRUMENTS ACT, 1881 The Negotiable Instruments Act was enacted, in India, in 1881. Prior to its enactment, the provision of the English Negotiable Instrument Act were applicable in India, and the present Act is also based on the English Act with certain modifications. It extends to the whole of India except the State of Jammu and Kashmir. The Act operates subject to the...
    2,661 Words | 9 Pages
  • Bills of Exchange - 1270 Words
    BILLS OF EXCHANGE According to Indian Negotiable Instrument Act, “ A bill of exchange is an instrument in writing, an unconditional order, signed by the maker, directing a certain person to pay a certain sum of money only to or to the order of certain person or to the bearer of the instrument.” CHARACTERISTICS Bills of exchange has got the following features: 1. An Unconditional order It is an order by the drawer (creditor) to his drawee {debtor) without any...
    1,270 Words | 5 Pages
  • Negotiable Instruments in Banking - 5284 Words
    0 Assignment On Negotiable Instruments in Banking Course Title: Introduction to Banking Course Code: FIN-305 Assigned To: Mr. S.M. Athiqur Rahman Lecturer Dept. of Business Administration Leading University, Sylhet, Bangladesh. Prepared By: Md. Inzamam-Ul Haq Talukder ID. # 1101010342 Section: E 7th Semester (27th Batch) Leading University, Sylhet, Bangladesh D ATE OF SUBMISSION: APRIL 21, 2013 i Declaration This assignment paper has been prepared by myself which is...
    5,284 Words | 17 Pages
  • Da Boss - 857 Words
    Finance 460 Buy/Sell Case Study Santa Clara Wealth Management (SCWM) has agreed in principal to be sold to Anne and Barry, two recent graduates of the MBA program at SCU. Anne has a strong background in business development and will lead the firm’s efforts in recruiting new clients and managing client relationships. Barry will be focused on internal operations including investment strategy, vendor relations, and other operations-related matters such as HR, Finance and Accounting, and...
    857 Words | 4 Pages
  • Week 7 - 3485 Words
    1 Question 1 0 out of 1 points 1 1 1 1 The return on a commercial bill for a holder at its maturity is the difference between its discounted purchase price and the face value of the bill. 1 1 Selected Answer: 2 True 3 Correct Answer: 4 False 2 Question 2 1 out of 1 points 1 1 1 1 With regard to a rollover bill financing facility: 1 1 Selected Answer: 2 none of the given answers are correct. 3 Correct Answer: 4 none of the given answers are...
    3,485 Words | 46 Pages
  • Brief Exercises - 304 Words
    BE8-1 Presented below are three receivables transactions. Indicate whether these receivables are reported as accounts receivable, notes receivable, or other receivables on a balance sheet. | (a) | Sold merchandise on account for $64,000 to a customer. | | (b) | Received a promissory note of $57,000 for services performed. | | (c) | Advanced $10,000 to an employee.a. accounts receivableb. notes receivablec. other receivables | | BE9-1 The following expenditures were...
    304 Words | 2 Pages
  • Dear Financial Aid Committee
    Dear Financial Aid Committee: My name is _______ and I am writing this appeal letter in hope that you will reconsider your decision and grant my financial aid. I would like to begin thanking you in advance for taking time to read this letter and consider my request to reinstate my financial aid at Somewhere University. I apologize for the lack of attention to my courses in the fall semester of 2012, and I do not blame anyone but myself, however, I would like to explain the circumstances. My...
    439 Words | 1 Page
  • banking law - 1134 Words
    HOLDER IN DUE COURSE Section 9 of the Act defines ‘holder in due course’ as any person who (i) for valuable consideration, (ii) becomes the possessor of a negotiable instrument payable to bearer or the indorsee or payee thereof, (iii) before the amount mentioned in the document becomes payable, and (iv) without having sufficient cause to believe that any defect existed in the title of the person from whom he derives his title. (English law does not regard payee as a holder in due course). The...
    1,134 Words | 3 Pages
  • INTERNATIONAL TRADE DOCUMENTS - 1340 Words
    INTERNATIONAL TRADE DOCUMENTS. №1. Securities-ценные бумаги, trust receipt -сохранная расписка, addressee –адресат, trustee- доверенное лицо, a bill of exchange – вексель , bill of lading – транспортная накладная(коносамент) , airway bill –авианакладная , goods & service – товары и услуги, the IMF- МВФ (Международный валютный фонд), consular invoice – консульская фактура, documents of title to goods – док-ты о праве собственности на товары, quality certificate- сертификат качества,...
    1,340 Words | 6 Pages
  • Chapter 8 and 9 Homework
    Assignment Print View http://ezto.mhecloud.mcgraw-hill.com/hm.tpx?todo=printview Score: 100 out of 100 points (100%) 1. award: 5 out of 5.00 points On November 1, Bahama Cruise Lines borrows $3 million and issues a six month, 6% note payable. Interest is payable at maturity. Record the issuance of the note and the appropriate adjustment for interest expense at December 31, the end of the reporting period. (Enter your answers in dollars not in millions. Do not round intermediate...
    2,973 Words | 15 Pages
  • Current Liabilities and Payroll Accounting
    第11 章 流动负债与薪资的会计核算Current Liabilities and Payroll Accounting ◆ 教学目的和要求:要求学生了解掌握概念:负债与负债的分类,已知负债、估计负债,或有负债、薪资的会计核算。 ◆ 教学重点:如何定义、分类、衡量、披露和分析负债。 ◆ Teaching Objectives: Make clear the concepts such as current and long-term liabilities and their characteristics, known liabilities, estimated liabilities, contingent liabilities and payroll accounting. ◆ Teaching Focus: how to define, classify, measure, report, and analyze these liabilities so that this information is useful...
    918 Words | 5 Pages
  • Negotiable Instruments - 64211 Words
    Subject: Principles of Insurance and Banking Course Code: FM-306 Lesson: 1 Author: Dr. S.S. Kundu Vetter: Dr. B.S. Bodla NEGOTIABLE INSTRUMENTS ACT, 1881 STRUCTURE 1.0 1.1 1.2 1.3 1.4 1.5 Objectives Introduction Meaning of Negotiable Instruments Characteristics of a negotiable instrument Presumptions as to negotiable instrument Types of negotiable Instrument 1.5.1 Promissory notes 1.5.2 Bill of exchange 1.5.3 Cheques 1.5.4 Hundis 1.6 Parties to negotiable instruments 1.6.1 Parties to Bill...
    64,211 Words | 189 Pages
  • Intermedia Chapter 13 Summary
    Chapter 13 Current Liabilities and Contingencies Part A: Current Liabilities * Liabilities and owners’ equity on the right-hand side of the equation represent the two basic sources of the assets on the left-hand side. * Characteristics of Liabilities 1. Are probable, future sacrifices of economic benefits. 2. Arise from present obligation (to transfer goods or provide services) to other entities. 3. Result from past transactions or events. * Current Liability *...
    913 Words | 4 Pages
  • Intermediate Acct Wk 3 Hw
    Week 3 Homework E14-3 (Entries for Bond Transactions) (1a) The issuance of the bonds 1/1/12 Cash................................................. 300,000 Bonds payable.....................................300,000 (1b) The payment of interest on July 1 (300,000 x 9% x 3/12) 7/1/12 Interest Expense..............................6,750 Cash...............................................................6,750 (1c) The accrual of interest on December 31 12/31/12 Interest...
    359 Words | 3 Pages
  • Indian Legal System - Types of Negotiable Instruments
    TYPES OF NEGOTIABLE INSTRUMENT Section 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)...
    2,970 Words | 10 Pages
  • Law Reating to Negotiable Instrument
    Law Relating To Negotiable Instrument TABLE OF CONTENTS Acknowledgement 1. Chapter 1: Introduction 1. Objectives of the study……………...........................………………………6 2. Limitations of the study.................................................................................6 3. Research methodology………………………………………………...........7 2. Chapter 2:Law Relating to Negotiable Instrument 1. Negotiable Instrument………………………….....................…..…………8 2. Parties to...
    5,588 Words | 22 Pages
  • Gm597 Week 3 Assignments
    GM597 Week 3 Assignments 22-10 Yes, the reference to the mortgage does indeed make the promissory note nonnegotiable. On page 351 of our text it says that one of the formal requirements for a negotiable instrument is that it cannot require any undertaking in addition to the payment of money. By referencing the other mortgage it causes the parties to have to read and acquire information from a different document. From our class discussion I researched UCC 3-106 and it states that for a...
    626 Words | 2 Pages
  • Town Savings and Loan Bank vs Ca
    Town Savings and Loan Bank vs CA, Negotiable Instrument Digest GR No. 10611, June 17, 1993 Town Savings and Loan Bank vs CA Facts: In 1983, the Hipolitos applied for and were 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...
    384 Words | 2 Pages
  • PMCKINSEY BUL2131 5001 WEEK4 INDW
    You are interested in buying a new car and Bob lets you borrow one of the new cars on his lot for a week to test drive. You decide you like the car and when you visit Bob to drop off the car, he hands you the following document and a pen: May 1, 201x I promise to pay to the order of Bob's Auto Emporium $20,000 (Twenty thousand dollars) with interest at the rate of 7% per annum. What type of instrument is this? Does this instrument meet the requirements for negotiability under the UCC? With the...
    381 Words | 1 Page
  • Role of Negotiable Instruments - 354 Words
    Role of negotiable instrumentnts in boosting trade and commerce: Negotiable instruments such as cheques, bills of exchage, prommissory notes etc are playing a vital role In today's boosting trade and commerce. One of the reason behind the expanding of the trade and commerce so rapidly is also the negotialble instruments. In trade the transactions are now becoming aso much depending on the negotiable instruments. Where in commerce also the negotiable instruments are helping us in the following...
    354 Words | 1 Page
  • Past Question Paper - 707 Words
    ECO-2 No. of Printed Pages : 7 BACHELOR'S DEGREE PROGRAMME Term-End Examination December, 2012 ELECTIVE COURSE : COMMERCE ECO-2 : ACCOUNTANCY-I Maximum Marks : 50 Time : 2 Hours Note : Attempt any four questions, including question no. 1 which is compulsory. 1. Answer any two of the following : (a) 7+7 Distinguish between Income and Expenditure Account and Receipts and Payments Account. (b) What do you mean by invoice price ? Give reasons for consigning the...
    707 Words | 15 Pages
  • Negotiable Instruments Act - 1614 Words
    NI provides holder two rights:- 1. To receive amount specified in such document from person who is liable 2. To transfer aforesaid right to any other person Applicability :- 1. Location: Whole India except state of J&K 2. Instrument based: Section 13 gives definition of NI  B/E, Pro Note and Cheque - For DD it is applicable - Not App on share certificate - Not App on share warrant - Not App on Document of title - Not App on Currency note - Not App on Bonds/Commercial papers/ T Bills/...
    1,614 Words | 6 Pages
  • Technical Data Corporation Business Plan
    Technical Data Corporation Business Plan 1. Technical Data Corporation is in the computer hardware and software business. TDC is in the business of providing liable data in regards to the fixed income market. TDC is going to provide a web based service that will relay historical price data, price analysis, and market commentary on the day to day price variances. Currently the purchases of this information are not willing to pay high amounts to access this information. Additionally, the...
    1,098 Words | 3 Pages
  • The Bank - 554 Words
    First State Bank of Sinai vs Hyland FACT: In this case both sides of the party have very good statements and facts that either hold them responsible or not hold them responsible. When it comes to the defendant Mervin Hyland, he says that during the whole time the two promissory notes were being conducted he was incapacitated through the use of liquor when he signed the note. When it comes to the plaintiff First state bank of Sinai, they stated that he signed a promissory note and sent a check...
    554 Words | 2 Pages
  • Point Paper - Effective Use of Time
    POINT PAPER ON EFFECTIVE USE OF TIME PURPOSE Managing an SP function is a tough job. It is even more difficult in the Reserve since you only see your people twice a month. Effective use of time is essential. The pamphlet you’ve been is a compilation of the most modern, effective time management techniques to date. DISCUSSION Time wasters (page 2-1) Occupational requirements and traits ( long phone calls, unnecessary correspondence, red tape, etc) Personal, self-generated traits (...
    504 Words | 3 Pages
  • Law Case Digest - 997 Words
    LAPU-LAPU VS. COURT OF APPEALS G.R. No. 126006 January 29, 2004 Petitioner: LAPULAPU FOUNDATION, INC. and ELIAS Q. TAN Respondents: COURT OF APPEALS (Seventeenth Division) and ALLIED BANKING CORP. Ponente: CALLEJO, SR., J FACTS: In 1977, four loans from Allied Banking Corporation which is enclosed by four promissory notes amounting P100, 000 each was acquired by Elias Q. Tan, then President of Lapu-lapu Foundation, Inc. The bank was inhibited to file with the Regional...
    997 Words | 3 Pages
  • Sample Pro.Note - 601 Words
    SAMPLE PROMISSORY NOTE This document is to be used as a guideline only. HowStuffWorks does not guarantee that this document is suitable, or legally accurate, for all situations, and is not liable for any deficiencies in the document’s content. |Borrower Information: | |Name: |Date:...
    601 Words | 3 Pages
  • Legal Aspects of Business - 378 Words
    BUSINESS LAW Course Code: MGBLW 10201 Credit Units: 03 No. of hours : 33 Course Objective: The objective of the course is to acquaint the management students with the basic fundamentals of business related laws and to understand its linkages with other fields of management which have significant bearing on business organization Course Contents: Module I: Companies Act, 1956 Meaning, definition and...
    378 Words | 3 Pages
  • Negotiable Instruments- Sections - 388 Words
    NEGOTIABLE INSTRUMENTS ACT 1881 SECTIONS REFERANCE 4 Definition of promissory note. 5 Definition of bills of exchange. 6 Definition of Cheque. 8 Definition of holder of bills of exchange. 9 Holder in due course. 11 Inland instruments. 12 Foreign instruments. 14 Negotiation of bills of exchange. 15 Endorsement of bills of exchange. 13 Definition of negotiable instruments. 17 Ambiguous instrument. 20 Incomplete or inchoate instruments. 22...
    388 Words | 2 Pages
  • lifting the corporate veil - 511 Words
    “LIFTING THE CORPORATE VEIL” The recognition that a company is a separate legal entity distinct from its shareholders is often expressed as the “veil of incorporation”. General principle, once a company is incorporated, the courts usually do not look behind the veil to inquire why the company was or who really controls it. However in certain situations, the court will ignore the separate legal personality of a company and look to the members/controllers of the company is “lifting the...
    511 Words | 2 Pages
  • I Have a Dream - 829 Words
    “I Have a Dream”的修辞特征分析 [摘 要] 马丁·路德·金的“I Have a Dream”一直被认为是英语演讲中的经典之作。文章从语音、词汇、句法三方面分析了这篇英语演讲的修辞特征,以帮助英语学习者更好地欣赏马丁·路德·金的演讲艺术、演讲技能,理解演讲的深层含义,提高欣赏水平,领略演讲的魅力。 1863年美国总统亚伯拉罕·林肯(Abraham Lincoln)签署了《解放宣言》,但这一重要法令颁布100年以后,美国黑人依然没有获得自由,依然悲惨地蹒跚于种族隔离和种族歧视的枷锁之下。为了争取自由平等,民权运动领袖马丁·路德·金1963年领导25万人举行了历史性的示威游行。游行队伍在林肯纪念碑前举行集会,马丁·路德·金发表了“I Have a Dream”[1]这篇激动人心的演讲。马丁·路德·金为黑人争取自由平等,发动了美国的民权运动,功绩卓著,闻名于世。他还被誉为近百年来八大最具有说服力的演说家之一。[2]笔者就他的这篇演讲的修辞特征作一些探讨。...
    829 Words | 1 Page
  • Negotiable Instruments - 2384 Words
    Negotiable Instruments Act, 1881 From Wikipedia, the free encyclopedia Jump to: navigation, search The Negotiable Instruments Act, 1881 | An Act to define and Law relating to negotiable instruments which are Promissory Notes, Bills of Exchange and cheques | Citation | Act No. 26 of 1881 | Enacted by | Imperial Legislative Council (India) | Date enacted | 9 December 1881 | Date commenced | 1 March 1882 | Negotiable Instruments Act, 1881 was passed by British India and for over 130...
    2,384 Words | 7 Pages
  • Negotiable Instrument and Secured Transactions
    CPA Regulation Negotiable Instruments and Secured Transactions Negotiable Instruments and Secured Transactions What is a note and who are the parties to a note? © 2011 HOCK international 91 A note is a written promise to pay money. Notes are different from drafts in that notes are a promise to pay. If there is any doubt whether a document is a note or a draft, the holder of the document can decide what it is. There are two parties involved in a note. 1) The Issuer (Maker) is...
    3,467 Words | 19 Pages
  • Esguerra vs. Villanueva - 583 Words
    ESGUERRA V. VILLANUEVA Facts Appeal from a decision of the Court of First Instance of Pangasinan. Esguerra executed a lease in favor of de Guzman in Esguerra-Gueco Building in Dagupan City. Beginning July 1961. However, de Guzman failed to pay his rentals for February to August 1962, and de Guzman’s mother executed a promissory note. However, the mother failed to comply with the same. A suit then commence, however, it was settled through a compromise agreement. PhP 2,260 was paid which...
    583 Words | 2 Pages
  • Chapter 25 The Function and Creation of Negotiable Instruments
    Chapter 25 The Function and Creation of Negotiable Instruments (流动票据) I. Overview A negotiable instrument (also known as commercial paper) is a signed writing (or electronic record) that contains an unconditional promise (无条件承诺) or order to pay an exact amount, either on demand or at a specific future time. A negotiable instrument can function as a Substitute for cash or as an extension of credit. Check: Substitute for cash Promissory note (本票): Substitute for an extension of credit For a...
    340 Words | 2 Pages
  • Nego - 103732 Words
    NEGO 1. G.R. No. 76788 January 22, 1990 JUANITA SALAS, petitioner, vs. HON. COURT OF APPEALS and FIRST FINANCE & LEASING CORPORATION, respondents. Arsenio C. Villalon, Jr. for petitioner. Labaguis, Loyola, Angara & Associates for private respondent. FERNAN, C.J.: Assailed in this petition for review on certiorari is the decision of the Court of Appeals in C.A.-G.R. CV No. 00757 entitled "Filinvest Finance & Leasing Corporation v. Salas", which modified the decision of the Regional Trial...
    103,732 Words | 253 Pages
  • Assignment # 5 Terms of a contract
    No. John Hunt went to the McIlory Bank and Trust to see if he could get a long term loan for the S.B.H Farms. He talked to a loan officer about getting a long-term loan for building hog houses, buying livestock, and for expanding the farm operations. The McIlory Bank and Trust agreed to loan him $175,000.00 on short term promissory notes which all the owners of S.B.H. Farms had to sign. While all the owners of S.B.H. Farms were at the bank, they had an oral discussion about the long-term loans...
    403 Words | 1 Page
  • NEGOTIABLE INSTRUMENTS - 468 Words
    NEGOTIABLE INSTRUMENTS NEGOTIABLE INSTRUMENT  According to Section 13 (a) of the Act, “Negotiable instrument means a promissory note, bill of exchange or cheque payable either to order or to bearer, whether the word “order” or “ bearer” appear on the instrument or not.”   A negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand, or at a set time, with the payer named on the document. Examples of negotiable instruments...
    468 Words | 3 Pages
  • Prtc Law - 771 Words
    1. Check shall produce the effect of payment: I. When the check has been encashed II. When through the fault of the creditor the check has been impaired. III. When a check has been cleared and credited to creditor’s account. IV. When the creditor 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...
    771 Words | 3 Pages
  • NEGOTIABLE INSTRUMENTS - 3074 Words
    NEGOTIABLE INSTRUMENTS • • • • • They are credit instruments Used as substitute of money They are ‘Chose’(thing) in action “Negotiable” means transferable by delivery Instruments means written documents creating rights in favour of some person. • Negotiable instruments thus means documents transferable by delivery. DEFINITION OF NEGOTIABLE INSTRUMENT • Negotiable instruments are governed by the Negotiable Instruments Act 1881, which came in to force on 1st march 1882. • The Act is based on...
    3,074 Words | 19 Pages
  • Discharge of Negotiable Instrument - 281 Words
    By payment in due course: The instrument is discharged by payment made in due course by the party who is primarily liable to pay, or by a person who is accommodated in case the instrument was made or accepted for his accommodation, The payment must be made at or after the maturity to the holder of the instrument if the maker or acceptor is to be discharged. A payment by a party who is secondarily liable does not discharge the instrument. By party primarily liable by becoming holder...
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