alleryStart learning →Section 13 requires a negotiable instrument to be payable:
ATo a minor only
BTo order or to bearer
COn a fixed date only
DTo the drawee alone
Answer & Solution
Correct answer: B. To order or to bearer
A promissory note, bill or cheque is negotiable only when payable either to order or to bearer.
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Related questions
The Negotiable Instruments Act was passed as Act No. 26 of the year:The 2002 amendment of the Act inserted new sections numbered:Criminal liability for cheque dishonour entered the Act through an amendment of:Interim compensation in cheque dishonour cases was added by the Act of:Interim compensation under Section 143A must ordinarily be paid within:Interim compensation under Section 143A cannot exceed what share of the cheque?Cheque dishonour trials under the Act should aim to end within:Which court may try a Section 138 offence?