Amendment in Negotiable Instruments Act, 1881 made in 1988 has introduced an important provision relating to:
A. Easy negotiability
B. Dishonour of cheque
C. Bank draft
D. Privileges of holder in due course
Select an option to see the answer and solution.
For what term of imprisonment an offender under section 138 of the Negotiable Instruments Act can be punished
A. For a term which may extend to two years
B. For a term which may extend to one year
C. For a term exceeding three years
D. None of the above
Select an option to see the answer and solution.
No one other than RBI and Central Government can make a Promissory note payable to bearer.
A. True
B. False
C. Partly true
D. Partly false
Select an option to see the answer and solution.
A draws a bill on B. B accepts the bill without any consideration. The bill is transferred to C without consideration. C transferred it to D for value. Decide as per the provisions of the Negotiable Instruments Act, 1881 -
A. D can sue only A
B. D can sue A or B only
C. D can sue any of the parties A, B or C
D. D cannot sue any of the parties A, B or C
Select an option to see the answer and solution.
Cheque bouncing cases charged under section 138 of Negotiable Instruments Act is trailed by
A. Bank Tribunal
B. Consumer Forum
C. Magistrate Court
D. Sessions Court
Select an option to see the answer and solution.
The term "a cheque in the electronic form" is defined in the Negotiable Instruments Act, 1881 under:
A. Section 6(a)
B. Section 6(b)
C. Explanation 1(a) of Section 6
D. None of these
Select an option to see the answer and solution.
The maximum amount which may be awarded as interim compensation under Section 143A of the Negotiable Instruments Act, 1881 is
A. 10% of the amount of cheque
B. 20% of the amount of cheque
C. 30% of the amount of cheque
D. 40% of the amount of cheque
Select an option to see the answer and solution.
Chapter XVII containing sections 138 to 142 was introduced in the Negotiable Instruments Act
A. Act 65 of 1988
B. Act 66 of 1988
C. Act 67 of 1988
D. Act 68 of 1988
Select an option to see the answer and solution.
A draws a cheque in favour of M, a minor. M endorses the same in favour of X. The cheque is dishonoured by the bank on grounds of inadequate funds. As per the provisions of Negotiable Instruments Act, 1881:
A. M is liable to X
B. X can proceed against A
C. No one is liable in this case
D. M can proceed against A
Select an option to see the answer and solution.
Which of the following is true about a 'Bank Draft'?
A. It is a promissory note
B. It is not a negotiable instrument
C. It is very much like a cheque
D. It is a bill of exchange
Select an option to see the answer and solution.
Which of the following is true about 'Inchoate Instrument'?
A. It is an ambiguous instrument
B. It is an incomplete or blank negotiable instrument
C. It is not a negotiable instrument
D. It is a documentary bill
Select an option to see the answer and solution.
Which of the following circumstances will attract the provisions of Section 138 of Negotiable Instruments Act?
A. Cheque dishonour due to insufficiency of funds
B. Cheque returned by the Bank unpaid on the ground that the account is closed
C. Cheque returned by the Bank unpaid due to stop payment instruction by drawer
D. In all of the above circumstances
Select an option to see the answer and solution.
The appeal against an order of acquittal passed by Judicial Magistrate First Class in respect of the offence under Section 138 of the Negotiable Instruments Act would lie to-
A. To the High Court directly
B. To the Court of Session
C. To the High Court with the leave of that Court
D. To the Court of Chief Judicial Magistrate
Select an option to see the answer and solution.
As per Section 118 of the Negotiable Instruments Act, presumption in regard to the date of a negotiable instrument is that every negotiable instrument bearing a date was made or drawn:
A. On such date
B. Prior to that date
C. May be on or prior to such date
D. None of the above
Select an option to see the answer and solution.
Offence under Negotiable Instruments Act are:
A. Cognizable & compoundable
B. Non Cognizable & compoundable
C. Cognizable & Non compoundable
D. Non Cognizable &non compoundable
Select an option to see the answer and solution.
How much time is given for complaint for 'dishonour' of cheque?
A. 45 days of intimation of dishonour
B. 90 days of intimation of dishonour
C. 30 days of intimation of dishonour
D. 15 days of intimation of dishonour
Select an option to see the answer and solution.
As per the provision of section 93, when a cheque is dishoroured by non-acceptance or non-payment the holder
A. May or may not give notice to the oparties whom the holder seeks to make liable thereon
B. Must given notice to the parties whom the holder seebs to made
C. Must give notice to the parties whom the holder such to make liable, but after noting
D. Must not give any notice to anyone
Select an option to see the answer and solution.
Which provision of the Act deals with 'payment in due course'?
A. Section 9
B. Section 10
C. Section 36
D. Section 78
Select an option to see the answer and solution.
In order to rebut the presumption under Section 138 & 118 of Negotiable Instruments Act accused
A. Must prove the absence of consideration by direct evidence
B. Must prove absence of consideration beyond reasonable doubt
C. Must give some evidence in defence
D. May rebut the presumption on the principle of preponderance of probability
Select an option to see the answer and solution.
A cheque which is torn into pieces is called
A. Stale cheque
B. Mutilated cheque
C. Postdated cheque
D. Dishonored cheque
Select an option to see the answer and solution.