Holder is an individual who has lawfully received possession of a Commercial Paper, such as a cheque and who is entitled for payment on such instrument.

Related MCQs

• Which of the following is/are false about Dishonour of Cheque? A) Section 138 defines Dishonour of cheque for insufficiency, etc., of funds in the account. B) Such cheque has been presented to the bank within a period of twelve months from the date on which it is drawn or within the period of its validity, whichever is earlier C) Imprisonment for such offence may be extended for period of five year D) Section 138 apply unless – the drawer of such cheque fails to make the payment of the said amount of money to the payee or, as the case may be, to the holder in due course of the cheque, within fifteen days of the receipt of the said notice.
• If the holder of a bill of exchange allows the drawee more than ___ hours, exclusive of public holidays, to consider whether he will accept the same, all previous parties not consenting to such allowance are thereby discharged from liability to such holder.
• 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?
• Dishonour of Negotiable Instrument by Non Payment is covered under section in Negotiable Instrument Act 1882…
• The endorsement on the cheque is fictitious and the collecting banker failed to check it the cheque is paid by the paying banker
• In case of sufficiency of funds in the account of the drawer which can be properly used to pay the cheque, the banker must pay the cheque when required to do so.
• A banker should not refuse payment of a cheque if ________.
• The paying banker who makes cash payment of a cross cheque at the counter shall be liable for the loss of
• What happens if a crossed cheque is presented for payment?
• The paying banker is protected under following SECTION for payment of cheque with forged signature of the drawer.