Negotiable Instruments Law: Choose the CORRECT answer and EXPLAIN.

6. Maturity of undated negotiable instrument issued payable 30 8. Which of the following is not a characteristic of a bill of days after sight is computed from exchange? a) Date of first indorsement a) Original parties are the drawer, drawee and payee b) Date of last indorsement b) Acceptance is generally required c) Date for first presentation for acceptance c) Drawer is primarily liable d) Date of issue d) Contains an unconditional order to pay 7. When a negotiable instrument payable to order? 9. Which is not correct? The acceptor by accepting a a) When payable to the order of a specified person or to him or negotiable instrument his order a) Admits the existence of the payee and his capacity to endorse b) When payable to the order of a fictitious person or non- b) Admits the existence of the drawer, the genuiness of his existing person and such a fact was known to the person signature and his authority to draw the instrument making it so payable c) Admits the existence of the endorser, the genuiness of his c) When the name of the payee does not purport to be the name signature and his authority to draw the instrument of a person. d) Admits that he will pat it according to the tenor of his d) When only or last indorsement is in blank acceptance