Negotiable Instrument Act was passed in the year _________

(a)

1981

(b)

1881

(c)

1994

(d)

1818

Negotiable Instrument is freely transferable by delivery if it is a instrument.

(a)

Order

(b)

Bearer

(c)

Both a & b

(d)

None of the above

The transferee of a Negotiable Instrument is the one _______________

(a)

Who transfer the instrument

(b)

On whose name it is transferred

(c)

Who enchases it

(d)

None of the above

Number of parties in a bill of exchange are_______.

(a)

2

(b)

6

(c)

3

(d)

4

Section 6 of Negotiable Instruments Act 1881 deals with _______.

(a)

Promissory Note

(b)

Bills of exchange

(c)

Cheque

(d)

None of the above

________cannot be a bearer instrument.

(a)

Cheque

(b)

Promissory Note

(c)

Bills of exchange

(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

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

(a)

Restrictive

(b)

Faculative

(c)

Sans recourse

(d)

Conditional

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