This course deals with the provisions of law on negotiable instruments. It includes discussions on topics on negotiability of the instruments; functions and kinds of negotiable instruments; construction of ambiguous instrument; forgery and its effect; consideration; accommodation party; manner and consequence of transfer of instruments; striking out endorsements; requisites of holder in due course; defense of parties; discharge of negotiable instruments and the parties secondarily liable; liabilities of the parties; effects of alteration; and other kinds of instruments such as promissory notes and bills of exchange. Some of the major themes that will be explored in class include the process of negotiation and collecting (i.e. paying and getting paid), loss allocation (who pays when there is a problem), and emerging payments system using new technology and Internet (credit and debit card systems).
Course Description:
This course deals with the provisions of law on negotiable instruments. It includes discussions on topics on negotiability of the instruments; functions and kinds of negotiable instruments; construction of ambiguous instrument; forgery and its effect; consideration; accommodation party; manner and consequence of transfer of instruments; striking out endorsements; requisites of holder in due course; defense of parties; discharge of negotiable instruments and the parties secondarily liable; liabilities of the parties; effects of alteration; and other kinds of instruments such as promissory notes and bills of exchange. Some of the major themes that will be explored in class include the process of negotiation and collecting (i.e. paying and getting paid), loss allocation (who pays when there is a problem), and emerging payments system using new technology and Internet (credit and debit card systems).
Number of Unit: 3 units
Pre-requisite: Obligations and Contracts
Course Objectives:
General:
To equip the students with full/adequate knowledge of the law thereby making them legally upright and
competent future practitioners of their chosen profession of accountancy.
Specific:
To mold the students into becoming law-abiding and responsible future accountants thus becoming instruments
and living examples of reforms in their profession and advocates for respect for the law in our society in
general.
Text book and other Teaching Materials:
1. De Leon, Hector (latest edition) The Law on Negotiable Instrument
2. An integrative study material prepared by Atty. Jose Ngo Jr.
References: Agbayani, Handbook on Negotiable Instruments (latest edition)
J. Torres, The Law on Negotiable Instruments (latest edition)
C. Suarez, The Law on Negotiable Instruments (latest edition)
Grading System:
|
|
Prelim
|
Finals
|
Total
|
|
Quizzes
|
20%
|
25%
|
45%
|
|
Exams
|
20%
|
25%
|
45%
|
|
Assignment, Recitations and others
|
5%
|
5%
|
10%
|
|
|
45%
|
55%
|
100%
|
Expectations from each student:
The student’s responsibility is to come to each class prepared. She is also expected to take all examinations on the dates scheduled. She should read the assigned materials and solve assigned problem materials prior to class. She is expected to attend each class and participate actively in the discussions.
Academic dishonesty:
All BSA students are expected to be academically honest. Cheating, lying and other forms of immoral and unethical behaviour will not be tolerated. Any student found guilty of cheating in examinations or plagiarism in submitted course requirements will (at a minimum) receive F (or 0.00) or failure in the course. Plagiarism and cheating refer to use of unauthorized books, notes or otherwise; securing help in a test, copying tests, assignments, reports, or term papers; representing the work of another person as one’s own collaborating, without authority, with another student during an examination or in preparing academic work; signing another student’s name on attendance sheet; or otherwise practicing scholastic dishonesty.
