Explain or state briefly the rule or reason for your answers.

1. A bill of exchange signed by W addressed to X states: "Please pay Y or order P100,000." Is the bill negotiable? 2. "I promised to pay X P10,000 within 10 days before I retire from government service." Is the note negotiable? 3. An instrument signed by W payable to X was indorsed in blank by X by simply writing his name on the back thereof. The instrument was given was given by X to Y in payment for foods sold by Y. Is the note negotiable in the hands of Y?

4. W, maker of a promisory note, payable to order of X who indorses it to Y whose signature is forged by Z, who, in turn, indorses it to A. State the right of A assuming he acted in good faith. 5. W, maker of a promisory note payable to order of X, a minor, was indorsed by X to Y. Is X liable to Y if W cannot play?

Q2) fre Compouad, San Nicente Ferner St., Area D. Brgy 178, Camarin Caloocan City Ted. Na.6682575;.Email Address:st.vincentdeferrercollegeofccc@yahoo.com 12. Give the requisites in order that an agent who signs a negotiable instrument on behalf of a principal may not be held personally liable to the payee or holder. iin. Problems. Explain or state briefly the rule or reason for your answers. 1. A bill of exchange signed by W addressed to X states: "Please pay Y or order P10,000." Is the bill negotiable? 2. I promise to pay XP10,000 within 10 days before I retire from government service." Is the note negotiable? 3. An instrument signed by W payable to X was indorsed in blank by X by simply writing his name on the back thereof. The instrument was given by X to Y in payment for goods sold by Y. Is the note negotiable in the hands of Y ? 4. W, maker of a promissory note, payable to order of X who indorses it to Y whose signature is forged by Z who, in turn, indorses it to A. State the right of A assuming he acted in good faith. 5. W, maker of a promissory note payable to order of X, a minor, was indorsed by X to Y. Is X liable to Y if W cannot pay