Commercial Law, 2011 Bar — Question 99

MULTIPLE CHOICE

strument in his (P's) name. It reads: “Pay to B or order the sum of Php1 million. Signed, A (for and in behalf of P).” The instrument shows that it was drawn on P. B then indorsed to C, C to D, and D to E. E then treated it as a bill of exchange. Is presentment for acceptance necessary in this case? A) No, since the drawer and drawee are the same person. B) No, since the bill is non-negotiable, the drawer and drawee being the same person. C) Yes, since the bill is payable to order, presentment is required for acceptance. D) Yes, in order to hold all persons liable on the bill.

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