DRO NI ACT QUIZ

Railway Receipt , Bills of Lading, Warehouse Receipt etc. are also treated as Negotiable instruments as per Section 137 of________?

• BR ACT
• RBI ACT
• TRANSFER OF PROPERTY ACT
• NONE OF THE ABOVE

Negotiable Instrument Act came into force in which year?

• 1891
• 1981
• 1961
• 1881

As per Sec 6 of NI Act. Cheque is a _________ but always payable on demand and drawee is always a banker

• PROMISSORY NOTE
• BILL OF EXCHANGE
• DEMAND INSTRUMENTS
• NONE OF THE ABOVE

As per section ____ of the NI Act, an instrument on which date, payee or amount is not mentioned is called as Inchoate or incomplete instrument

• 21
• 19
• 18
• 20

The cheque should be written in which language?

• Hindli
• English
• Regional language
• All are true

The amount written in words is called _______ amount

• Courtsey
• Lawful
• Legal
• NONE OF THE ABOVE

amount written in figures is called ______ amount

• Legal
• courtesy
• Statutory
• NONE OF THE ABOVE

Payment via cheque can be made in case of

• Death
• Insolvency
• Stop payment
• 2 months old cheque

For SB accounts background colour of cheque is?

• Light Blue
• Light Orange
• Light Grey
• Light Pink

IFSC code is having _____characters

• 10
• 16
• 11
• 12