Negotiable Instrument Act was passed in the year _________

(a)

1981

(b)

1881

(c)

1994

(d)

1818

Section 6 of Negotiable Instruments Act 1881 deals with _______.

(a)

Promissory Note

(b)

Bills of exchange

(c)

Cheque

(d)

None of the above

When crossing restrict further negotiation

(a)

Not negotiable crossing

(b)

General Crossing

(c)

A\c payee crossing

(d)

Special crossing

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

(a)

3

(b)

4

(c)

5

(d)

1

Document of title to the goods exclude ______________

(a)

Lorry receipt

(b)

Railway receipt

(c)

Airway bill

(d)

Invoice

The cheque is to be signed by the

(a)

drawee

(b)

banker

(c)

drawer

(d)

none of these

The number of parties to a bill of exchange is

(a)

2

(b)

4

(c)

6

(d)

3

What is meant by Negotiable Instrument?

Define Bill of Exchange.

List three characteristics of a Promissory Note.

Define Endorsement

Explain the nature of a Negotiable Instrument.

Distinguish between Negotiability and Assignability.

What are the characteristics of a bill of exchange?

Draw the two different types of crossing.

what do you mean by significance of special crossing?

Distinguish a cheque and a bill of exchange.(any 5)

Explain the different kinds of endorsements.