Negotiable instrument

In which year Negotiable Instrument Act was passed?

• 1881

• 1882

• 1883

• 1884

3 DAYS OF GRACE ARE ADDED TO THE DUE DATE ONLY IN CASE OF A NEGOTIABLE INSTRUMENT LIKE A BILL OF EXCHANGE OR A PROMISSORY NOTE. TRUE OR FALSE?

From the following mentioned, which is not considered as a Negotiable Instrument ?

• Probate

• Promissory note

• Bill of Exchange

• Cheque

According to the Negotiable Instruments Act 1881, a bill of exchange is:

• Bill

• Valuable Security

• Document

• Receipt

According to Negotiable Instrument Act, a cheque is _____

• Bank note

• Bill of Exchange

• Letter of Guarantee

• Letter of credit

Which section of the NI Act defines the words, ‘Negotiable Instrument’:

• Section 15

• Section 14

• Section 13A

• Section 13

• Section 15

• Section 14

• Section 13A

• Section 13

The act of placing one's signature on an instrument, usually on the back, to transfer it to another:

• drawee

• endorsement

• negotiation

• schedule

A promissory note, bill of exchange or cheque payable to order, is negotiable:

• • By endorsement and delivery thereof.

• • By the holder by endorsement

• • By delivery thereof.

• • None of the above.

What is the time period for sending of Legal Notice for Dishonour of Cheque?

• 10

• 30

• 60

• 90

Endorsement made on reverse side of the instrument with mere signature of the endorser without name is called __________

• Blank endorsement

• Full endorsement

• Conditional endorsement