Negotiable Instrument - General Rules of Interpretation

The video tutorial explains the hierarchy of contract interpretation when dealing with negotiable instruments. It emphasizes that words take precedence over numbers, handwritten terms over typed or printed terms, and both typed and handwritten terms over boilerplate language. This hierarchy is crucial in resolving ambiguities in contract terms.

In contract interpretation, what takes precedence when there is a conflict between words and numbers?

• The context determines the precedence.

• Numbers take precedence over words.

• Words take precedence over numbers.

• Both are considered equally.

What is the significance of handwritten terms in a contract?

• They override typed or printed terms if made before issuance.

• They are less important than printed terms.

• They are only considered if typed terms are unclear.

• They are not valid in any situation.

When do handwritten terms not override printed terms?

• When they are written in pencil.

• When they are in a different language.

• When they are made before the instrument is issued.

• When they are made after the instrument is issued.

What is the role of boilerplate text in contract interpretation?

• It is the most important part of the contract.

• It is overridden by both typed and handwritten terms.

• It is considered only if handwritten terms are absent.

• It always takes precedence over other terms.

Why might boilerplate text be less significant in a contract?

• It is the first thing considered in disputes.

• It is often non-obvious and requires higher understanding.

• It is always clear and straightforward.

• It is usually handwritten.