2013 (Mercantile Law) Bar Exam Questions: Essay Question 1

[Answer/discuss the question below. Or check Mercantile Law Instructions; Mercantile Law Essay Questions: 2, 3, 4, 5, 6, 7, 8, 9 and 10; Mercantile Multiple Choice Questions: 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14 and 15; See also 2013 Bar Exam: Information, Discussions, Tips, Questions and Results]

I.

Antonio issued the following installment:

P100,000.00

August 10, 2013

Makati City Sixty days after date, I promise to pay Bobby or his designated representative the sum of ONE HUNDRED THOUSAND PESOS (P100,000.00) from my BPI Acct. No. 1234 if, by this due date, the sun still sets in the west to usher in the evening and rises in the east the following morning to welcome the day.

(Sgd.) Antonio Reyes

Explain each requirement of negotiability present or absent in the instrument. (8%)

6 comments

  1. I just enumerated sec. 1 of the NIL, then I state whether that requisite is present or absent, I explain those which require an explanation and leave as it is those which are obvious. For example requisite no. 1 is obvious na in writing and signed so present, requisite no. 2 is absent since under sec. 3, an order or promise to pay out of a particular fund is not unconditional.

    1. Ako din I enumerated the requisites of NEGOTIABILITY WUPOA. Then explained if each was present or not, kasi yung lang naman yung tinanong. Super happy ako na ito lang ang Nego sa Essay kasi hindi ko talaga naiintindihan ang Nego.

  2. if i were to answer this, i will just enumerate section 1 of NIL…

    i agree with etoile… ANG GULO GULO NGA NG NEGO harharhar

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