1. Who are the parties in a bill of exchange?
A: Drawer, Drawee, Payee[Sec.7]
2. ________is an instrument in writing co...
endorsed or transferred without consideration, or for a
consideration which fails, creates _________ of payment
between th...
19. Unless contrary is proved, holder of negotiable
instrument _________presumed to have received the
cheque referred unde...
of 3

Nan2

Published on: Mar 3, 2016
Source: www.slideshare.net


Transcripts - Nan2

  • 1. 1. Who are the parties in a bill of exchange? A: Drawer, Drawee, Payee[Sec.7] 2. ________is an instrument in writing containing an unconditional undertaking signed by the maker to pay a certain sum of money only to, or to the order of a certain person, or to the bearer. A: Promissory Note[Sec.4] 3. ________is an instrument in writing containing an unconditional order, signed by the maker, directing a certain person to pay a certain sum of money only to, or to the order of a certain person or to the bearer. A: Bill of Exchange[Sec.5] 4.________is a person entitled in his own name to the possession of a promissory note, bill of exchange or cheque and to receive or recover the amount due thereon from the parties. A: Holder[Sec.8] 5. _______is generally a person who for consideration became possessor of a promissory note, bill of exchange or cheque. A: Holder in due course[Sec.9] 6. Negotiable Instrument is defined in _________. A: Sec.13 7. What is the process by which a negotiable instrument is transferred to any person so as to constitute such person the holder called? A: Negotiation[Sec.14] 8. Liability of drawer to compensate the holder in case of dishonour is primarily provided under_______. A: Sec 30 9. A negotiable instrument made, drawn, accepted,
  • 2. endorsed or transferred without consideration, or for a consideration which fails, creates _________ of payment between the parties to the transaction. A: No obligation[Sec.43] 10. __________is one mode by which the maker of a negotiable instrument discharges himself from liability. A: Cancellation.;Release and Payment are other modes[Sec. 82] 11. Material alteration on a negotiable instrument renders it void.___________is an exception. A: Common intention[Sec.87] 12. Penalties, Cognizance, Jurisdiction etc are discussed in __________ of the Act. A: Chapter 17 13. Issuance of notice by the holder in case of dishonour is primarily provided in _________. A: Sec.93 14. Sec.118 of the Act deals with_______. A: Presumptions 15. A cheque is crossed_________when it bears across its face an addition of the name of a banker, either with or without the words "not negotiable". A: Specially[Sec.124] 16. Condonation of delay in making complaint is provided under________. A: Proviso to Sec.142 17. Compounding of offences is provided under________. A: Sec.147 18. When the amount is stated differently in words and figures, the amount stated in _________is to be taken. A: words[Sec.18]
  • 3. 19. Unless contrary is proved, holder of negotiable instrument _________presumed to have received the cheque referred under Sec.138 for discharge of any debt or liability. A: Shall be[Sec.139] 20. Signing a document written, read and understood is called________. A: execution.

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