
Negotiable Instruments Quiz
Authored by Rupam Das
Special Education
Professional Development
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30 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 2 pts
The word "Banker" is defined in NI Act-1881 in its section:
4
3
5
2
2.
MULTIPLE CHOICE QUESTION
20 sec • 2 pts
What is a Negotiable Instrument under the Negotiable Instruments Act, 1881?
A document that promises payment of money to the bearer
A movable property that can be transferred
A document containing a guarantee for goods
A legally binding contract
3.
MULTIPLE CHOICE QUESTION
20 sec • 2 pts
Which section of the Act defines a promissory note?
Section 4
Section 5
Section 6
Section 7
4.
MULTIPLE CHOICE QUESTION
20 sec • 2 pts
Negotiable Instruments means a Promissory note, Bill of exchange or Cheque, payable:
Bearer
Order
Either to bearer or order
Neither bearer nor order
5.
MULTIPLE CHOICE QUESTION
20 sec • 2 pts
Dishonor of a cheque due to insufficient funds attracts which section of the Act?
Section 126
Section 138
Section 142
Section 145
6.
MULTIPLE CHOICE QUESTION
20 sec • 2 pts
Which of the following is NOT a negotiable instrument as per the Act?
Cheque
Promissory Note
Letter of Credit
Bill of Exchange
7.
MULTIPLE CHOICE QUESTION
20 sec • 2 pts
The maturity period of a bill of exchange payable after sight is:
30 days
3 days (grace period)
15 days
As per the terms mentioned in the bill
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