44 - Concepts Related to Negotiable Instruments

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1).
Which of the following are included/excluded in determining reasonable time for the purpose of payment of a negotiable instrument?
2).
Which of the following defines 'At sight' under section 21 of the Negotiable Instrument Act, 1881?
3).
Which of the following means 'indorsement in blank' of an instrumentnder section 16 of the Negotiable Instrument Act?
4).
What happens if in an instrument the amount undertaken or ordered to be paid is stated differently in figures and in words?
5).
Which of the following instruments may be construed either as a promissory note or bill of exchange?
6).
The term "a cheque in the electronic form" is defined in the Negotiable Instruments Act, 1881 - under which of the following sections?
7).
A bill of exchange contains which of the following?
8).
When did Negotiable Instruments Act, 1881 came into force?
9).
As per section 147 of the Negotiable Instruments Act, 1881, every offence punishable under the Act are?
10).
Which of the following relates to the notice of protest under section 102 of the Negotiable Instruments Act, 1881?
1. Which of the following are included/excluded in determining reasonable time for the purpose of payment of a negotiable instrument?
[A] public holidays are included
[B] public holidays are excluded
[C] only the holidays observed by the banks are excluded
[D] none of the above
2. Which of the following defines ‘At sight’ under section 21 of the Negotiable Instrument Act, 1881?
[A] on presentation
[B] on demand
[C] on coming into vision
[D] none of the above
3. Which of the following means ‘indorsement in blank’ of an instrumentnder section 16 of the Negotiable Instrument Act?
[A] where the indorser does not write anything on the instrument
[B] where the indorser writes his name only on the instrument
[C] where the indorser writes the name of the person who is directed to pay
[D] none of the above
4. What happens if in an instrument the amount undertaken or ordered to be paid is stated differently in figures and in words?
[A] the instrument is void due to uncertainty
[B] the amount stated in figure shall be the amount undertaken or ordered to be paid
[C] the amount stated in words shall be the amount undertaken or ordered to be paid
[D] none of the above
5. Which of the following instruments may be construed either as a promissory note or bill of exchange?
[A] valid instrument
[B] ambiguous instrument
[C] returnable instrument
[D] none of the above
6. The term “a cheque in the electronic form” is defined in the Negotiable Instruments Act, 1881 – under which of the following sections?
[A] Section 6
[B] Section 6(l)
[C] Section 6A
[D] None of the above
7. A bill of exchange contains which of the following?
[A] Unconditional order
[B] Unconditional undertaking
[C] Conditional undertaking
[D] Conditional order
8. When did Negotiable Instruments Act, 1881 came into force?
[A] 9th December, 1881
[B] 19th December, 1881
[C] 1st March, 1882
[D] none of the above
9. As per section 147 of the Negotiable Instruments Act, 1881, every offence punishable under the Act are?
[A] Compoundable
[B] Non-compoundable
[C] Cognizable
[D] None of the above
10. Which of the following relates to the notice of protest under section 102 of the Negotiable Instruments Act, 1881?
[A] may be given by the notary public who makes the protest
[B] must always be given by the notary public who makes the protest
[C] must be given by the holder
[D] none of the above
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