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The Negotiable Instruments Act, 1881 1 Mark Book Back Question Paper With Answer Key

12th Standard

    Reg.No. :
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Commerce

Time : 00:15:00 Hrs
Total Marks : 10

    Multiple Choice Question

    10 x 1 = 10
  1. Negotiable Instrument Act was passed in the year _________.

    (a)

    1981

    (b)

    1881

    (c)

    1994

    (d)

    1818

  2. 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

  3. 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

  4. Number of parties in a bill of exchange are_______.

    (a)

    2

    (b)

    6

    (c)

    3

    (d)

    4

  5. Section 6 of Negotiable Instruments Act 1881 deals with _______.

    (a)

    Promissory Note

    (b)

    Bills of exchange

    (c)

    Cheque

    (d)

    None of the above

  6. ________cannot be a bearer instrument.

    (a)

    Cheque

    (b)

    Promissory Note

    (c)

    Bills of exchange

    (d)

    None of the above

  7. When crossing restrict further negotiation

    (a)

    Not negotiable crossing

    (b)

    General Crossing

    (c)

    A\c payee crossing

    (d)

    Special crossing

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

    (a)

    Restrictive

    (b)

    Faculative

    (c)

    Sans recourse

    (d)

    Conditional

  9. A cheque will become stale after _______ months of its date:

    (a)

    3

    (b)

    4

    (c)

    5

    (d)

    1

  10. Document of title to the goods exclude ______________

    (a)

    Lorry receipt

    (b)

    Railway receipt

    (c)

    Airway bill

    (d)

    Invoice

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