Case 1

Marlon executed a promissory note as follows:

"I promise to pay Paul or order P50, 000 or to deliver to him a brand-new laptop computer."

Question:

Is the instrument negotiable?

Case 2

Assess the following instruments:

A. "Pay to Charlie or order P200, 000 out of my cash in your possession." (Addressed to

Tim, signed by Denver)

B. "Pay to C or order P200,000 and reimburse yourself out of my cash in your possession." (Addressed to Tim, signed by Denver)

Question:

Which of these instruments are negotiable?

Case 3

An instrument reads as follows:

November 30, 2020

I promise to pay to the order of Jessabel De Guzman the sum of P50, 000 if he places first in the May 2021 CPA Examination.

(Sgd.) Paula Macaraeg

Question:

Is the instrument valid? Is the instrument negotiable?

Case 4

A bill of exchange reads as follows:

January 1, 2020

Pay to the order of Pamela One the sum of P500, 000 thirty (30) days after sight.

(Sgd.) Ros Blackpink

To: Willie Wonka

The above bill was issued by Rose Blackpink to Pamela One on December 28, 2019 and was presented for acceptance by Pamela One to Willie Wonka on January 10, 2020. Based on the foregoing facts, when is the maturity date of the bill?