The instrument may be in writing or in oral form.

A payee maybe considered as a person secondarily liable

An instrument payable upon contingency is not negotiabl

A non-negotiable instrument may not be negotiated.

A holder is both an indorser and possessor.

Negotiable Instruments are provisionally accepted in place of actual cash.

The sum payable is a sum certain, although it is paid with interest.

The Bill of Exchange was the first recognized Negotiable Instrument by early common law courts.

The sum payable is a sum certain, although it is paid by stated installments.

The last indorser and possessor is a holder.

The sum payable is a sum certain, although it is paid by stated installments with acceleration clause

In ordinary obligations, the payee is considered as the debtor.

A crossed check may not be encashed but only deposited in the bank.

Payment of sum in a foreign currency will impair negotiability.

In Europe, negotiable instruments were already in use in the 15th and 16th century

An instrument payable upon contingency is negotiable.

The maker has the option to pay if the instrument is payable on or before a fixed time.

Negotiable instrument is not a contract.

The validity and negotiable character of an instrument is are affected if it is not dated

A negotiable instrument is not a substitute for money.

The validity and negotiable character of an instrument is are affected if does not specify the value given.

A bearer instrument can be negotiated by proper indorsement and delivery.

The validity and negotiable character of an instrument is are affected if it bears a seal.

An order instrument could not be converted into bearer instrument.

Date of instrument generally not necessary.

The principal parties of a check are maker, payee and drawee bank.

There are cases where date is necessary to determine the date of maturity.

The payee is a person primarily liable in a negotiable instrument

The payee may choose to hold the instrument until maturity date.

Omission of value makes the instrument non-negotiable.

A certificate of deposit is not a form of promissory note.

Omission of place of payment does not make an instrument non-negotiable.

The bond issuer is the one who floats the bond.

Presence of seal on the instrument does not destroy its negotiability.

Debenture bonds are secured by specific property or asset of the issuing company.

An instrument is payable on demand where it is payable at sight.

Trade acceptance is not a form of bill of exchange.

An instrument is payable on demand where it is payable on presentation

A check is a form of promissory note drawn on a bank and always payable on demand.

An instrument is payable on demand in which no time for payment is expressed.

The relationship between the bank and the depositor is that of a debtor and a creditor.

An instrument is negotiated by mere delivery when it is payable to bearer.

A crossed check may be negotiated only once.

An instrument is negotiated by mere delivery when it is payable to the order of fictitious person.

An instrument is negotiated by proper indorsement and delivery when it is payable to the order of fictitious person.

An instrument is negotiated by mere delivery when the name of the payee does not purport to be the name of any person.

In a check, presentment for payment must be made within a reasonable time.

An instrument is negotiated by mere delivery when the only indorsement is an indorsement in blank.

Presentment for acceptance applies if the place of payment is different from the domicile of the drawee.

Date is necessary to determine the maturity and negotiability of the instrument.

In a check, presentment for payment must be made within reasonable time after negotiation.

Date is necessary where the instrument is payable at a fixed period after date.

Presentment for acceptance is required if the bill of exchange is payable at a fixed period after sight.

Date is not necessary where the instrument is payable at a fixed period after date.

The payee will become an indorser if he or she will negotiate a negotiable instrument.

Date is necessary where the instrument is payable at a fixed period after sight or presentment.

A check may be payable at a fixed future time.

Date is not necessary where the instrument is payable at a fixed period after sight or presentment.

Ordinarily, an instrument payable on demand need not be dated since it is demandable at any time.

A check is always payable on demand.

An instrument may be negotiable though written in a foreign language.

A bill of exchange is always payable on demand.

An instrument is ante-dated when it contains a date later than the true date of issuance.

A promissory note maybe payable at a determinable future time.

An instrument is ante-dated when it contains a date earlier than the true date of issuance.

A bill of exchange maybe payable at a determinable future time

An instrument is post-dated when it contains a date later than the true date of issuance.

The drawer or maker must sign a negotiable instrument.

An instrument is post-dated when it contains a date earlier than the true date of issuance.

The drawer must sign the promissory note.

Generally, ante-dating or post-dating an instrument does not render it invalid or non-negotiable.

Absolutely, ante-dating or post-dating an instrument will render it invalid or non-negotiable.

Ante-dating or post-dating an instrument for illegal purpose will render it invalid.

Ante-dating done to conceal the charge of usurious interest is legal.

An instrument is negotiated by mere delivery when the last indorsement is an indorsement in blank

Presentment for payment applies only to bill of exchange.

When the promissory note is dated such date is deemed prima facie the date of making.

In promissory note, the parties secondarily liable are the payee and all the indorsers prior to the holder

When the acceptance of bill of exchange is dated such date is deemed prima facie the date of acceptance.

Intentional cancellation of the instrument by the holder is not considered as discharge.

When the bill of exchange is dated such date is not deemed prima facie the date of making.

When the acceptance of bill of exchange is dated such date is not deemed prima facie the date of acceptance.

The drawer is a party secondarily liable.

The maker issues the bill of exchange.

The payee issues the promissory note.

When the bill of exchange is dated such date is deemed prima facie the date of drawing.

When the bill of exchange is dated such date is not deemed prima facie the date of drawing.

The maker or the drawer is the one who issues a negotiable instrument

When the indorsement of an instrument is dated such date is deemed prima facie the date of indorsement.

In a check, the drawee is the bank where the drawer has a deposit.

Not all bills of exchange require presentment for acceptance.

When the indorsement of an instrument is dated such date is not deemed prima facie the date of indorsement.

All bills of exchange require presentment for acceptance.

Promissory note and bill of exchange require presentment for payment.

Generally, a date is not essential to make an instrument negotiable.

Order instrument is negotiated by delivery.

A date is essential to make an instrument negotiable.

Dishonor by non-acceptance applies to promissory note and bill of exchange.

Date is necessary to determine the maturity of the instrument.