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Law · Q71

Negotiable Instruments Act

Graduate and Post Graduate · Law · question 71

Q71

Which of the following is a correct statement of law as per Sections 138 and 142 of the Negotiable Instruments Act, 1881?

A.
A cheque is to be presented to the bank within a period of six months from the date it is drawn or within the period of its validity, whichever is earlier
B.
Notice within thirty days of receipt of information from the bank regarding return of cheque as unpaid, has to be served upon drawer, demanding payment of amount of money
C.
On failure of drawer of such cheque to make payment within fifteen days of receipt of such notice, the payee or holder of cheque has to file complaint within one month thereof
D.
All the above
Answer

Answer: Option D

Solution

Answer: Option D
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