
Negotiable Instrument Act Part 1
Authored by Shubham Singhal
Other
Professional Development
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Validity period for the presentment of cheque in bank is
3 months
6 months
1 year
2 years
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A negotiable instrument that is payable to order can be transferred by:
Simple delivery
Indorsement and delivery
Indorsement
Registered post
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Days of grace provided to the Instruments at maturity is:
1 day
2 days
3 days
5 days
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
As per the Negotiable Instruments Act, 1881, when the day on which a promissory note or bill of exchange is at maturity is a public holiday, the instrument shall be deemed to be due on the
Said Public Holiday
5 days succeeding public holiday
Next succeeding business day
Next preceding business day
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is an essential characteristic of a promissory note
There must be an order to pay certain sum
It must be payable to bearer
It must be signed by the Payee
It must contain an unconditional undertaking
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The date of maturity of a bill payable hundred days after sight and which is presented for sight on 4th May, 2021, is:
13th August, 2021
14th August, 2021
15th August, 2021
16th August, 2021
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
An instrument which is vague and cannot be clearly identified either as a bill of exchange, or as a promissory note, is called as:
Bearer instrument
Ambiguous instrument
Order instrument
Inland instrument
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