The Negotiable Instruments Act, 1881 Book Back Questions

12th Standard EM

    Reg.No. :
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Commerce

Time : 00:45:00 Hrs
Total Marks : 30
    5 x 1 = 5
  1. Section 6 of Negotiable Instruments Act 1881 deals with

    (a)

    Promissory Note

    (b)

    Bills of exchange

    (c)

    Cheque

    (d)

    None of the above

  2. ___________cannot be a bearer instrument.

    (a)

    Cheque

    (b)

    Promissory Note

    (c)

    Bills of exchange

    (d)

    None of the above

  3. Which endorsement relieves the endorser from incurring liability in the event of dishonour

    (a)

    Restrictive

    (b)

    Faculative

    (c)

    Sans resourse

    (d)

    Conditional

  4. A cheque will become stale after _______ months of its date:

    (a)

    3

    (b)

    4

    (c)

    5

    (d)

    1

  5. Document of title to the goods exclude

    (a)

    Lorry receipt

    (b)

    Railway receipt

    (c)

    Airway bill

    (d)

    Invoice

  6. 3 x 2 = 6
  7. List three characteristics of a Promissory Note.

  8. What is meant by a cheque?

  9. Define Endorsement

  10. 3 x 3 = 9
  11. Distinguish between Negotiability and Assignability.

  12. What are the characteristics of a bill of exchange?

  13. Discuss the two different types of crossing.

  14. 2 x 5 = 10
  15. Mention the presumptions of Negotiable Instruments.

  16. Distinguish a cheque and a bill of exchange.

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