alleryStart learning →If no interest rate is stated, interest runs per annum under Section 80 at:
A9 percent
B18 percent
C12 percent
D6 percent
Answer & Solution
Correct answer: B. 18 percent
Section 80 as amended fixes the default rate at eighteen per centum a year when the instrument states none.
Keep practising Negotiable Instruments Act 1881
Browse all Negotiable Instruments Act 1881 questions for CA Foundation, or explore more Businesslaw topics.
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?