NI Act, Sale of Goods, Companies Law Quiz

Which of the following section in the Negotiable Instruments Act deals with the Bill of Exchange?

• Section 5

• Section 6

• Section 4

• Section 13

• Section 8

Section 6 of the Negotiable Instruments Act defines ___

• Cheque

• Bill of Exchange

• Promissory Notes

• Dishonour by non-payment

• Dishonour by non-acceptance

Sec 4 of Negotiable Instrument Act 1881 deals with

• Promissory Note

• Bill of exchange

• Cheque

• Banker’s Note

• None of these

The parties of a bill of exchange are

• Drawee, Banker and payee

• Banker drawee and payee

• Banker acceptor and payee

• Banker drawer and payee

• Drawer, Drawee and Payee

Section 123 of the Negotiable Instruments Act,1881 deals with_______?

• Cheque crossed specially

• Set of bills.

• Cheque crossed generally

• Cognizance of offences

• Cheque crossed with condition

Which of the following are not the negotiable instruments?

• airways bills

• Bank note

• letter of credit

• Demand draft

• Only A , B and C

What is the time period during which the cheque is to be presented u/s 138 of NI act?

• A. Before the bank fails

• B. Before the drawer stops payment of Cheque

• C. During the validity period

• D. Maximum within 3 months of date of issue

• C &D

If a materially altered cheque is paid and the alteration is not visible even after careful examination of the cheque , the bank is protected ----

• U/s 87 of NI Act

• U/s of 89 of NI Act

• U/s of 85(1) of NI Act

• No protection is available

• any of the above

Which of the following is a material alteration?

• A bearer cheque converted to order

• Special crossing converted to general crossing

• Crossing a cheque

• All of the Above

• None of the above

Transfer of rights and remedies from the insured to the insurer who has indemnified the insured in respect of the loss iS ___

• Proximity clause

• SUBROGATION

• LIMITATION

• SETTLEMENT

• None of the above