Chapter 3 & 4

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1、1. Translate the following terms into English.1)一般划线支票）特殊划线支票）空白背书）特别背书）限制性背书）即期汇票）远期汇票2. Decide whether the following statements are true or false.1) In a promissory note, the drawer and the payer are the same person. ( )2) There is no acceptor in a promissory note. ( )3) A crossed cheque can be ca

2、shed over the counter. ( )4) Bills of exchange drawn by and accepted by commercial firms are known as trade bills. ( )5) In a cheque, the drawer and the payer are the same person. ( )6) A bill payable at 90 days sight” is a sight bill. ( )7) If a bill is payable at 90 days date”, the date of payment

3、 is decided according to the date of acceptance. ( )8) A draft is a conditional order in writing. ( )4、Choose the best answer to each of the following questions.1)The effect of a blank endorsement is to make the cheque payable to the _.A. order of a specified person B. specified personC. bearer D.na

4、med person2) If a bill is payable 60 days after date, the date of payment is decided according to _.A. the date of acceptanceB. the date of presentationC. the date of the billD. the date of maturity.3) An acceptance with the wording payable on delivery of bill of lading is _A. a general acceptance B

5、. qualified acceptanceC. non acceptance D. partial acceptance4) In order to retain the liabilities of the other parties, a bill that has been dishonored must be _.A. protested B. given to the acceptorC. retained in the files D. presented to the advising bank5) A cheque is valid for _ months from the

6、 date of issue, unless a shorter period is written on the face of it. (Please see Article 17 of the NEGOTIABLE INSTRUMENTS LAW OF THE PEOPLES REPUBLIC OF CHINA. 进入：上海银监局高管人员任职考试法规库，双击有“word”显示的票据法中文版或英文版。)A. six B. nine C. three D. one6）If a cheque dated 1st Feb., 2008 was presented on the 5th Nov.,

7、 2007, it would be _.A. antedate (or predated) B. out of date C. postdated D. undated7) If a cheque dated 1st Feb., 2008 was presented on the 5th Oct., 2008, it would be _.A. antedate (or predated) B. out of date C. postdated D. undated8) Payee J. Smith endorsed “James Smith pay to L. Green”, this i

8、s a _ endorsement.A. special B. blank C. general D. restrictive9) A _ carries comparatively little risks and can be discounted at the finest rate of interest.A. sight bill B. bank draft C. commercial bill D. trade bill10) A term bill may be accepted by the _.A. drawer B. drawee C. holder D. payee11)

9、 the _ of a promissory note has prime liability (主债务) while the other parties have secondary liability.A. maker B. drawee C. holder D. acceptor12) When financing is without recourse, this means that the bank has no recourse to the _ if such drafts are dishonored.A. payer B. drawee C. drawer D. payee

10、13) _ must be accepted by the drawee before payment.A. A sight bill B. A bill payable XX day after sightC. A promissory note D. A bill payable XX day after date14) In order to retain the liabilities of the other parties, a bill that has been dishonored must be _.A. protested B. given to the acceptor

11、C. retained in the files D. presented to the advising bank15) “A cheque payable to ABC Company is credited to the personal account of Mr. Li”, the bank _.A. is correct in crediting the account B. is merely doing what is requested by its customerC. has committed an act of negligenceD. will make a cla

12、im on its principal5、Bills of exchangePlease answer, fill the blanks in or make choice of the following questions.Exchange for GBP1250.00 Beijing, 1 April, 2006 At 90 days after sight pay to the order of DEF Co. the sum of Pounds one thousand two hundred and fifty onlyTo: XYZ Bank, London For ABC Co

13、., Beijing signature1) Refer to the above bill you may understand that a bill of exchange is an unconditional order in writing addressed by _ to _ signed by _ giving it requiring _ to whom it is addressed to pay at 90 days after sight the sum of _ to _.The holder of this bill is _ who must firstly p

14、resent it to _ for _. At maturity, the holder must present it again for _.2) The maturity of one month after 31 Jan. is _. The maturity of two months after 28 Feb. is _.The maturity of 180 days after 4 April is _ which is nonbusiness day and the maturity will be extended to _.6. Promissory notesSupp

15、ose a contract for the amount of USD720 000.00 was approved for buyers credit up to 85% of the said amount, after disbursement, Bank of China, Head Office, Beijing would issue a promissory note on 1st July, 2012 specifying that it is payable at 3 years after the above stated date to the order of Ban

16、k of Oslo, Oslo, Norway the sum of 85% of USD720 000.00 (refund of loan). Please make a promissory note by filling in the blanks of the following form.Promissory NoteIssued in _ the _ day of _On the _ day of _ fixedWe _ to pay against this Promissory Note to the order of _, the sum of _( say US doll

17、ars _).Payable in Oslo, Norway. For _ Signature7. ChequesRequirement of a cheque to be crossedThe drawer, Credit Agricole, New York had drawn a cheque as below, before first delivery of it, the drawer crossed cheque generally with the words “ Not Negotiable”.The payee/holder, Hau Yuan Economic & Dev

18、elopment Company, Shenzhen added “Account payee” to the general crossing before it sent to the cheque to the Agriculture Bank of China, Shenzhen for collection.The Agriculture Bank of China, Shenzhen crossed cheque special to Kincheng Bank Ltd., Hong Kong and sent to them for collection.Kincheng Ban

19、k Ltd., Hong Kong again crossed cheque special to Bank of China, New York for collection and expedited the same to them.(1) Please cross the cheque on its face in accordance with the following instructions:1) To complete a general crossing which contains the words “Not Negotiable” and “Account Payee

20、”.2) To complete a special crossing to Kincheng Bank Ltd., Hong Kong.3) To complete another special crossing to Bank of China, New York for collection.(2) To fill a payees endorsement in blank.Cheque No. XXXX New York, 30 Nov., 201XPay to the order of Ha Yuan Economic & Development Company, Shenzhen the sum of US dollars one thousand and eighty onlyUSD1 080.00To Philadelphia International Bank, For and on behalf of 55 Broad Street, New York Credit Agricole, New York 026005092 19105269 Sighnature_Space for endorsement