Sunday, December 20, 2009

Objective Questions: Negotiable Instruments Act,1881

1. Who are the parties in a bill of exchange?
    A:    Drawer, Drawee, Payee[Sec.7]
2. ________is an instrument in writing containing an unconditional undertaking signed by the maker to pay a certain sum of money only to, or to the order of a certain person, or to the bearer.
    A:    Promissory Note[Sec.4]
3. ________is an instrument in writing containing an unconditional order, signed by the maker, directing a certain person to pay a certain sum of money only to, or to the order of a certain person or to the bearer.
    A:    Bill of Exchange[Sec.5]
4.________is a person entitled in his own name to the possession of a promissory note, bill of exchange or cheque and to receive or recover the amount due thereon from the parties.
    A:    Holder[Sec.8]
5. _______is generally a person who for consideration became possessor of a promissory note, bill of exchange or cheque.
    A:    Holder in due course[Sec.9]
6. Negotiable Instrument is defined in _________.
    A:    Sec.13
7. What is the process by which a negotiable instrument is transferred to any person so as to constitute such person the holder called?
    A:    Negotiation[Sec.14]
8. Liability of drawer to compensate the holder in case of dishonour is primarily provided under_______.
    A:    Sec 30
9. A negotiable instrument made, drawn, accepted, endorsed or transferred without consideration, or for a consideration which fails, creates _________ of payment between the parties to the transaction.
    A:    No obligation[Sec.43]
10. __________is one mode by which the maker of a negotiable instrument discharges himself from liability.
    A:    Cancellation.;Release and Payment are other modes[Sec. 82]
11. Material alteration on a negotiable instrument renders it void.___________is an exception.
    A: Common intention[Sec.87]
12. Penalties, Cognizance, Jurisdiction etc are discussed in __________ of the Act.
    A:    Chapter 17
13. Issuance of notice by the holder in case of dishonour is primarily provided in _________.
    A:    Sec.93
14. Sec.118 of the Act deals with_______.
    A:    Presumptions
15. A cheque is crossed_________when it bears across its face an addition of the name of a banker, either with or without the words "not negotiable".
    A:    Specially[Sec.124]
16. Condonation of delay in making complaint is provided under________.
    A:     Proviso to Sec.142
17. Compounding of offences is provided under________.
    A:    Sec.147
18. When the amount is stated differently in words and figures, the amount stated in _________is to be taken.
    A:    words[Sec.18]
19. Unless contrary is proved, holder of negotiable instrument _________presumed to have received the cheque referred under Sec.138 for discharge of any debt or liability.
    A:     Shall be[Sec.139]
20. Signing a document written, read and understood is called________.
    A:    execution.

No comments:

Post a Comment

do not use abusive language

Copyright


Reserved with Vijayalekshmi Omana, the owner of the site. Any duplication without permission is prohibited and may invite legal proceedings.

Share Your View-Guest Posts

We have been here for quite some time. We are happy with providing short and simple notes on various legal matters. Now after receiving many requests from people for permitting them to write on this blog, we have thought of starting Guest Post section. Since many sites are already providing such facilities to readers, it will be very unfair on our part if we don't let great writers among you to express your views and analysis of various legal matters through an established medium.
Hence please share your thoughts and interest in becoming a Guest Writer. If we receive a good number of positive responses favouring it, we will publish an open invitation for Guest Writers.
Let me know your thoughts and views about starting such a new section in Sense of Law. Any one can mail me at vijirenjith@gmail.com and put subject of the mail as 'GW'.
Thank You for all the support. Best wishes.

Search Here

Followers

My Blog List

SENSE OF LAW Headlines

Recent Posts

Sunday, December 20, 2009

Objective Questions: Negotiable Instruments Act,1881

1. Who are the parties in a bill of exchange?
    A:    Drawer, Drawee, Payee[Sec.7]
2. ________is an instrument in writing containing an unconditional undertaking signed by the maker to pay a certain sum of money only to, or to the order of a certain person, or to the bearer.
    A:    Promissory Note[Sec.4]
3. ________is an instrument in writing containing an unconditional order, signed by the maker, directing a certain person to pay a certain sum of money only to, or to the order of a certain person or to the bearer.
    A:    Bill of Exchange[Sec.5]
4.________is a person entitled in his own name to the possession of a promissory note, bill of exchange or cheque and to receive or recover the amount due thereon from the parties.
    A:    Holder[Sec.8]
5. _______is generally a person who for consideration became possessor of a promissory note, bill of exchange or cheque.
    A:    Holder in due course[Sec.9]
6. Negotiable Instrument is defined in _________.
    A:    Sec.13
7. What is the process by which a negotiable instrument is transferred to any person so as to constitute such person the holder called?
    A:    Negotiation[Sec.14]
8. Liability of drawer to compensate the holder in case of dishonour is primarily provided under_______.
    A:    Sec 30
9. A negotiable instrument made, drawn, accepted, endorsed or transferred without consideration, or for a consideration which fails, creates _________ of payment between the parties to the transaction.
    A:    No obligation[Sec.43]
10. __________is one mode by which the maker of a negotiable instrument discharges himself from liability.
    A:    Cancellation.;Release and Payment are other modes[Sec. 82]
11. Material alteration on a negotiable instrument renders it void.___________is an exception.
    A: Common intention[Sec.87]
12. Penalties, Cognizance, Jurisdiction etc are discussed in __________ of the Act.
    A:    Chapter 17
13. Issuance of notice by the holder in case of dishonour is primarily provided in _________.
    A:    Sec.93
14. Sec.118 of the Act deals with_______.
    A:    Presumptions
15. A cheque is crossed_________when it bears across its face an addition of the name of a banker, either with or without the words "not negotiable".
    A:    Specially[Sec.124]
16. Condonation of delay in making complaint is provided under________.
    A:     Proviso to Sec.142
17. Compounding of offences is provided under________.
    A:    Sec.147
18. When the amount is stated differently in words and figures, the amount stated in _________is to be taken.
    A:    words[Sec.18]
19. Unless contrary is proved, holder of negotiable instrument _________presumed to have received the cheque referred under Sec.138 for discharge of any debt or liability.
    A:     Shall be[Sec.139]
20. Signing a document written, read and understood is called________.
    A:    execution.

No comments:

Post a Comment

do not use abusive language