Law an der University Of Northern Philippines | Karteikarten & Zusammenfassungen

Lernmaterialien für Law an der University of Northern Philippines

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TESTE DEIN WISSEN

To extend the maturity date.

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TESTE DEIN WISSEN

Extension Clause

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TESTE DEIN WISSEN

Functions of Negotiable Instrument

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TESTE DEIN WISSEN

1. Substitute for money

2. medium of exchange

3. credit instrument which increases credit circulation

4. Increase purchasing medium of circulation

5. Evidence of transaction

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TESTE DEIN WISSEN

Is a bill of exchange payable on demand or at sight or at some future determinable time.

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TESTE DEIN WISSEN

Drafts

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TESTE DEIN WISSEN

Who holds the instrument.

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TESTE DEIN WISSEN

Bearer

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TESTE DEIN WISSEN

The party in whose favor the bill is drawn or is payable.

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TESTE DEIN WISSEN

Payee

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TESTE DEIN WISSEN

Is a type of negotiable promissory notes made by a bank, payable to the bearer on demand.

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TESTE DEIN WISSEN

Notes

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TESTE DEIN WISSEN

This is that quality or attribute of a bill or note whereby it may pass from hand to hand similar to money, so as to give the holder in due course the right to hold the instrument and collect the sum payable for himself free from any infirmity in the instrument or defect in the title of any of the prior parties, or defenses available to them among themselves.

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TESTE DEIN WISSEN

Negotiability

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TESTE DEIN WISSEN

The most important feature of negotiable instrument as they are transferred from one person to another.

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TESTE DEIN WISSEN

Accumulation of secondary contracts

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TESTE DEIN WISSEN

A check that cannot be presented to the bank for cash payment but to be deposited in the account of the payee in the bank.

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TESTE DEIN WISSEN

Crossed Check

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TESTE DEIN WISSEN

It is written acknowledgement by a bank of the receipt of money on deposit which the bank promises to pay to the depositor or to him or his order, or to some other person or to him [or to his order, or to bearer or to a specified person or bearer, on demand or on a fixed date, often with interest. It creates the relation of debtor and creditor between the bank and the depositor.

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TESTE DEIN WISSEN

Certificate of Deposit

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TESTE DEIN WISSEN

Negotiable papers, particularly checks, constitute, at present, the media of exchange for most commercial transactions.

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TESTE DEIN WISSEN

As a medium of exchange

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TESTE DEIN WISSEN

An order of a depositor to his bank to pay a certain sum of money to a third party or himself on demand.

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TESTE DEIN WISSEN

Check

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Beispielhafte Karteikarten für deinen Law Kurs an der University of Northern Philippines - von Kommilitonen auf StudySmarter erstellt!

Q:

To extend the maturity date.

A:

Extension Clause

Q:

Functions of Negotiable Instrument

A:

1. Substitute for money

2. medium of exchange

3. credit instrument which increases credit circulation

4. Increase purchasing medium of circulation

5. Evidence of transaction

Q:

Is a bill of exchange payable on demand or at sight or at some future determinable time.

A:

Drafts

Q:

Who holds the instrument.

A:

Bearer

Q:

The party in whose favor the bill is drawn or is payable.

A:

Payee

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Q:

Is a type of negotiable promissory notes made by a bank, payable to the bearer on demand.

A:

Notes

Q:

This is that quality or attribute of a bill or note whereby it may pass from hand to hand similar to money, so as to give the holder in due course the right to hold the instrument and collect the sum payable for himself free from any infirmity in the instrument or defect in the title of any of the prior parties, or defenses available to them among themselves.

A:

Negotiability

Q:

The most important feature of negotiable instrument as they are transferred from one person to another.

A:

Accumulation of secondary contracts

Q:

A check that cannot be presented to the bank for cash payment but to be deposited in the account of the payee in the bank.

A:

Crossed Check

Q:

It is written acknowledgement by a bank of the receipt of money on deposit which the bank promises to pay to the depositor or to him or his order, or to some other person or to him [or to his order, or to bearer or to a specified person or bearer, on demand or on a fixed date, often with interest. It creates the relation of debtor and creditor between the bank and the depositor.

A:

Certificate of Deposit

Q:

Negotiable papers, particularly checks, constitute, at present, the media of exchange for most commercial transactions.

A:

As a medium of exchange

Q:

An order of a depositor to his bank to pay a certain sum of money to a third party or himself on demand.

A:

Check

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