WorksheetsEndorsement
Total questions: 15
Worksheet time: 8mins
2.A separate slip attached to negotiable instrument is known as
memo
pay in slip
allonge
counterfoil
3.When the endorser signs only his name it is called
general endorsement
special endorsement
conditional endorsement
partial endorsement
4.A type of an endorsement that negates the liability of the endorser is called
general endorsement
blank endorsement
special endorsement
conditional endorsement
5.The person in whose favour the endorsement is done is called
endorser
endorsee
negotiator
bearer
6.The banker who makes payment of a negotiable instrument is called
collecting banker
paying banker
drawing banker
all the above
7.Banker's duty to make payment of a cheque is contained in section ___ of the negotiable instruments act, 1881
30
31
32
33
8.A banker has to make payment as per instructions of
the drawee
the drawer
the payee
the endorser
9.A mutilated cheque is one
that is torn into pieces
that is soiled
that is stale
all the above
10.The term payment in due course means
payment made in good faith
payment made without negigence
payment made without a reasonale ground to suspect the title of the holder
all the above
11.Which of the following ia not an example of material alteration
alteration of date and amount of the cheque
alteration of name of the parties of the cheque
alteration of crossing of the cheque
conversion of bearer into order cheque
12.The term drawee bank refers to
the bank on which a cheque is made payable to
The bank on which a cheque is collectible
the collecting banker
none of the above
13. Banking ombudsman was set up by
RBI
SEBI
MCA
IRDA
14. Statutory protection is available to the collecting banker if
the cheque is a crossed one
He makes payment for the customer
He collects as anagent and in due course
all the above
15. The banking ombudsman has a tenure of five years
true
false
1.Endorsement is defined in section ___ of the negotiable instruments act, 1881
14
13
12
15
