CA Foundation The Negotiable Instruments Act, 1881 — practice questions
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Practice CA Foundation The Negotiable Instruments Act, 1881 in the app →Under Section 13, the Negotiable Instruments Act, 1881 recognises which three kinds of negotiable instruments?A defining feature of a negotiable instrument is that a bona fide transferee for value:Under Section 4, a 'promissory note' is an instrument in writing containing an unconditional:'Mr. B, I.O.U. Rs 1,000' is:'I promise to pay B Rs 500 seven days after my marriage with C.' This is:A promissory note has how many parties?Under Section 5, a 'bill of exchange' contains an unconditional:A bill of exchange has three parties, namely:Which is a correct distinction between a promissory note and a bill of exchange?Under Section 6, a 'cheque' is:Which statement about cheques and bills of exchange is correct?In a cheque, the drawee is always:A promissory note made payable 'to bearer':A 'bearer instrument' under Section 13 is one which:An 'order instrument' is negotiated by:Under Sections 11-12, an 'inland instrument' is one drawn or made in India and:An inland instrument that is subsequently indorsed in a foreign country:A 'foreign instrument' is:Under Section 20, an 'inchoate' instrument is one which is:On an inchoate instrument under Section 20, a holder in due course may recover:Under Section 17, an 'ambiguous instrument' (one that may be construed as either a note or a bill):Under Section 14, 'negotiation' of an instrument means its transfer:Under Section 46, with respect to negotiation, delivery of the instrument is:Under Section 138, dishonour of a cheque for insufficiency of funds is punishable with imprisonment up to:For an offence under Section 138, the payee must give notice demanding payment within 30 days of being informeUnder Section 138, the cheque must have been presented to the bank within:Under Section 139, when a cheque is dishonoured, it is presumed (unless the contrary is proved) that the holdeUnder Section 63, when a bill is presented to the drawee for acceptance, he may be allowed:Under Section 64, promissory notes, bills and cheques must, in default of which the other parties are not liabUnder Section 117, an endorser who, being liable, has paid the amount due on a dishonoured instrument is entit