Please answer in paper and pass when we see each other True or False.

1.A conditional indorsement renders the instrument non-negotiable. False

2.Where the instrument is negotiated back to a prior party, such party may reissue further negotiate the same but he is not entitled to enforce payment thereof against any intervening party to whom he was personally liable. True

3.The holder may at any time strike out any endorsement which is not necessary to his title. The endorser whose signature is struck out, and all subsequent indorser, are thereby relieved from the liability of the instrument. True

4.The bank is not liable to the holder, unless and until it accepts. True

5.A check is required to be presented for payment withina reasonable time after issue or the drawer will be discharge from the liability thereon to the extent of the loss caused by the delay. True

6.The liability of the acceptor is secondary. False

7.The drawer's liability is primary. False

8.Absence or failure of consideration is a matter of defense against any person not a holder in due course. True

9.The indorsement or assignment of the instrument by the corporation or by infant passes title therein, notwithstanding that from want of capacity, the corporation or infant may incur no liability thereon. True.

10.An order or promise to pay out of a particular fund is not negotiable. False.

11.An order or promise to pay is unconditional though coupled with an indication of a particular fund out of which reimbursement is to be made, or particular account to be debited with the amount. True.

12.The acceptor admits the existence of the drawer, the genuineness of its signature and his capacity and authority to draw the instrument.

13.The liability of the indorser is primary

14.Where the instrument is payable to order, the payee must be named or otherwise indicated therein with reasonable certainty

15.Where the instrument is payable to order, the payee must be named or otherwise indicated therein with reasonable certainty

16.There is payment when a negotiable instrument is delivered and accepted by the creditor.

17.Creditors are bound to accept checks in payment of debtor's obligation

18.The following instrument is negotiable: Please pay Jose Santos or bearer the sum of 60,000. (Sgd. Pedro Gil)

19.Notice of dishonor must be given to the drawer and to each indorser, and any drawer or indorser to whom such notice is not given is discharged

20.Every negotiable instrument is deemed prima facie to have been issued for a valuable consideration, and every person whose signature appears thereon to have become a party thereto for value. True

21.An instrument whichis payable to bearer is negotiated by mere delivery

22.An accommodation party is liable on an instrument for a holder in value, notwithstanding such holder at the time of taking the instrument knew him to be only an accommodation part

23.A signature b "procuration" operates as notice that the agent has but limited authority to sign and the principal is bound only in case the agent in so doing acted within the actual limits of is authority.

24.An antedated or postdated instrument is valid, and it does not lose its negotiable character just because it is antedated or postdated, provided this is not done for an illegal or fraudulent purpose.

25.An instrument where no time for payment is expressed is payable on demand.

26.Where the instrument is not dated, it will be considered to have been dated as of the time it was issued.

27.Where an incomplete instrument has not been delivered, it will not, if completed and negotiated without authority, be a valid contract in the hands of any holder, against any person whose signature was placed thereon for delivery

28.An instrument which contains an order or promise to doany act in addition t the payment of money is not negotiable.

29.An instrument payable upon contingency is not negotiable and the happening of the event does not cure the defect.

30.Where a signature is so placed upon the instrument that it is not clear in what capacity the person making the same intended to sign, he is deemed an indorser.