Which one of the following court is empowered to try the offence relating to dishonour of cheque for insufficiency etc. under the Negotiable Instruments Act, 1881?
A. Judicial Magistrate the Second Class
B. Judicial Magistrate the First Class
C. Banking Ombudsman
D. None of the above
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When presentment for payment is to be made under section 65 of the Act?
A. Presentment for payment can be made at any reasonable time.
B. Presentment for payment must be made during the usual hours of business and, if at a bank within banking hours.
C. There is no such stipulation on time for presentment.
D. None of the above.
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Instruction of "Stop Payment" remains valid for
A. Three months
B. One Year
C. Two years
D. None of these
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Under which provision of the Negotiable Instruments Act, the Appellate Court may order the appellant to deposit such sum which shall be a minimum of twenty percent of the fine or compensation awarded by the trial Court?
A. Section 148
B. Section 143A
C. Section 142
D. Section 143
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What is the presumption under Section 139 of the Negotiable Instruments Act?
A. That the cheque was signed by the person who holds the account
B. That the cheque was issued for discharge of any debt or liability
C. That the cheque was issued after ensuring that there is sufficient funds in the account
D. None of above
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When the acceptor of an instrument also a drawer, notice of dishonour is
A. Necessary
B. Not necessary
C. Not always necessary but under certain circumstances mentioned in section 98A of the Act, it is a must
D. None of the above
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Which Section provides that the offences under the Negotiable Instruments Act are compoundable?
A. Section 137
B. Section 141
C. Section 147
D. Section 149
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If in a cheque amount ordered to paid is written differently in figure and in words
A. The cheque will be void
B. The amount written in words shall be undertaken or ordered to be paid
C. It will be presumed that it was altered
D. None of these
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When a cheque has become invalid because of the expiry of the stipulated period, can it be re-validated by the drawer by alteration of dates?
A. Yes, the drawer can re-validate the cheque by alteration of dates
B. No, the drawer cannot re-validate it by so alteration of dates
C. Although the drawer cannot revalidate the cheque, but the drawee can at his discretion revaliate it
D. None of the above
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The Negotiation of instrument to any person receiving it by paying consideration, before maturity and in good faith is termed as . . . . . . .
A. Holder
B. Holder In due course
C. Both (A) and (B)
D. None of them
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That there must be specific allegation regarding the role played by each of the directors, then only they are liable for prosecution under section 138 of the Negotiable Instruments Act. In which of the following cases this statement was made:
A. Devi Iyers v. Nawab Jan
B. Y. Srelatha v. Mukand Chand Bothra
C. Tord Engineers India Ltd. v. Nagarjuna Finance Ltd.
D. BIPs System Ltd. v. State
Select an option to see the answer and solution.
A note under section 99 of the Negotiable Instruments Act should contain among other things
A. Place of the notary
B. Charges of notary
C. Both (A) and (B)
D. None of the above
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Under Negotiable Instruments Act, how many days after service of notice of demand on drawer, the Cause of Action arises against drawer, if he fails to make payment?
A. 30 days
B. 45 days
C. 15 days
D. 90 days
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To whom of the following, payment of the amount due on a promissory note, bill of exchange or cheque must be made in order to discharge the maker or acceptor
A. Holder of the instrument
B. Indorser of the instrument
C. Indorsee of the instrument
D. None of the above
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If in an instrument the amount undertaken or ordered to be paid is stated differently in figures and in words
A. The instrument is void due to uncertainty
B. The amount stated in figure shall be the amount undertaken or ordered to be paid
C. The amount stated in words shall be the amount undertaken or ordered to be paid
D. None of the above
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In which section of Negotiable Instruments Act, "Public holiday" is explained?
A. Section 21
B. Section 22
C. Section 24
D. Section 25
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Under section 143 of the Negotiable Instruments Act, an endeavour shall be made to conclude the trial within . . . . . . . . months from the date of filing of the complaint.
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According to Section 13 of the Negotiable Instruments Act, 1881, which is not a "Negotiable Instrument"?
A. Instrument of Debt
B. Promissory Note
C. Bill of exchange
D. Cheque
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A person (payee) signs a blank cheque and gives the same to another person (holder) and the holder fills up the blank space pertaining to amount and date and presents the same in his bank account and it is dishonoured. In such a situation, which of the following statement would be correct?
A. The holder has committed forgery
B. The cheque will have to be treated as invalid
C. The Bank would not accept the cheque
D. The holder will be entitled to maintain a complaint filed upon the cheque being dishonoured upon being presented in the bank
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What is the presumption to be drawn under Section 139 of the Negotiable Instruments Act?
A. That the holder of the cheque received the cheque for the discharge, in whole or in part, of any debt or other liability
B. That the drawer had duly signed the cheque
C. That the cheque was dishonoured for want of sufficient funds
D. That the cheque in question had not expired on the date of its presentation
Select an option to see the answer and solution.