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Under Section 13, the Negotiable Instruments Act, 1881 recognises which three kinds of negotiable instruments?
ABill of lading, cheque and debenture
BPromissory note, bill of exchange and cheque
CPromissory note, hundi and treasury bill
DHundi, cheque and railway receipt
Answer & Solution
Correct answer: B. Promissory note, bill of exchange and cheque
Section 13 provides for three negotiable instruments: promissory notes, bills of exchange and cheques (payable to order or bearer); others like hundis are negotiable by custom.
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