alleryStart learning →A purported indorsement transferring only part of the sum due is:
AValid after maturity
BValid if drawer agrees
CInvalid for negotiation
DValid for cheques
Answer & Solution
Correct answer: C. Invalid for negotiation
Section 56 refuses to treat a part-transfer writing as valid negotiation, though a part-payment note may be endorsed.
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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?