Commercial Law, 2012 Bar — Question 23

MULTIPLE CHOICE

A issued a check in the amount of Php20,000 payable to B. B endorsed the check but only to the extent of Php10,000. Which statement is most accurate? A) The partial indorsement is not a valid indorsement, although will result in the assignment of that part. B) The partial indorsement will invalidate the whole instrument. C) The endorsee will be considered as a holder in due course. D) The partial indorsement is valid indorsement up to the extent of the Php10,000.

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