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An instrument with no time for payment specified is payable:
AOn demand
BOn default
COn delivery
DOn despatch
Answer & Solution
Correct answer: A. On demand
1. This covers a note or a bill without a stated time.
2. A cheque is treated the same way.
3. All of these are payable on demand.
_Source: The Negotiable Instruments Act, 1881 (India Code)_
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