Which of the following is/are true about the Negotiable Instruments Act, the Promissory Note is … A) Definition of Promissory Note is given in section 8 of the Negotiable Instrument Act B) Containing an unconditional undertaking C) To pay a certain sum of money only to a specific person or the bearer D) The seller is bound to accept the promissory note E) A document was written and signed by the payer/maker

Related MCQs

• Which of the following is/are true about bill of exchange? A) A bill of exchange requires in its inception two parties. B) A bill of exchange or “draft” is a written order by the drawer to the drawee to pay money to the payee. C) Bills of exchange are used primarily in international trade, and are written orders by one person to his bank to pay the bearer a specific sum on a specific date. D) Definition of ‘Bill of Exchange’ is mentioned in Section 6 of the Negotiable Instrument Act.
• In Negotiable Instruments Act 1881, which section defines promissory note?
• Dishonour of Negotiable Instrument by Non Payment is covered under section in Negotiable Instrument Act 1882…
• The Negotiable Instruments (Amendment) Bill, 2017 inserted a provision allowing a court trying an offence related to cheque bouncing, to direct the drawer (person who writes the cheque) to pay interim compensation to the complainant. The interim compensation will not exceed ___% of the cheque amount?
• Which of the following section in the Negotiable Instruments Act deals with the Bill of Exchange?
• The following one is a negotiable instrument, negotiable by usage or custom
• Section 6 of the Negotiable Instruments Act defines ___.
• Section 45 of the Negotiable instruments Act, has imposed upon the banker the obligation to honour customers cheques.
• In case collection of a bank draft the collecting banker is protected against conversion under _____ section of Negotiable Instruments Act 1881.
• Which banker gets protection under section 85 of Negotiable Instrument Act, 1881?