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

Number of parties in a bill of exchange are_______.

(a)

2

(b)

6

(c)

3

(d)

4

________cannot be a bearer instrument.

(a)

Cheque

(b)

Promissory Note

(c)

Bills of exchange

(d)

None of the above

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

(a)

Restrictive

(b)

Faculative

(c)

Sans recourse

(d)

Conditional

Document of title to the goods exclude ______________

(a)

Lorry receipt

(b)

Railway receipt

(c)

Airway bill

(d)

Invoice