Notice of dishonour may be given:
ABy a notary only
BBy registered post
COrally or in writing
DIn writing only
Answer & Solution
Correct answer: C. Orally or in writing
The Act allows notice to be oral or written and in any form that informs the party of the dishonour.
Keep practising Bills of Exchange and Promissory Notes
Browse all Bills of Exchange and Promissory Notes questions for CA Foundation, or explore more Accounting topics.
Related questions
What sets a demand promissory note apart from one payable at a fixed future date?What does a promissory note contain that an IOU lacks?A bill of exchange requires, at its inception, how many parties?A holder in due course must acquire the instrument for consideration:A sum payable may still be 'certain' although it includes:A signs 'I promise to pay B or order Rs.500.' This is:A signed writing 'Mr B I.O.U Rs.1,000' is, under section 4:Where an instrument may be read as a promissory note or as a bill, the holder: