Negotiable Instruments Act, 1881- Test 3

A bill of exchange is called as a ……. when a bill of exchange drawn by one bank on another bank, or by itself on its own branch.

A ….. is a bill of exchange drawn on a specified banker and not expressed to be payable otherwise that on demand.

A cheque is a ……. drawn on a bank payable always ………

A cheque is a bill of exchange –

A cheque also require acceptance.

Essential of a cheque:………..

Stamp is required to be affixed on cheques.

Which of the following case banker MUST refuse to honour the cheque?

In which of the following case banker MAY refuse to honour the cheque?

In which of the following case banker May refuse to honour the cheque?

A payment will be a payment in due course if –

A cheque is overdue or becomes statute-barred after ……. from its due date of issue.

In India, a cheque, which has been in circulation for more than….. is regarded by bankers as stale.

…..can be presented by the payee to the paying banker and is paid over the counter.

Which of the following type of cheque can not be paid across the counter but be collected through a banker?

……… is a direction to the paying banker to pay the money generally to a banker or to a particular banker and not to pay otherwise.

Crossing is a direction to the paying banker that the cheque should be paid only to-

Which of the following can be crossed?

In general crossing a cheque bears across its face an addition of-

”Account Payee” crossing warms the collecting banker that proceeds are to be credited only to the –

The date on which payment of an instrument falls due is called its –

Every instruments payable at ….. is entitled to three days of grace.

Days of grace are allowed for cheques.

If the day of maturity falls on a public holidays, the instrument is payable on the –

If a bill is at maturity on a Sunday. It will be deemed due on-