Negotiable Instruments Act, 1881
Description: This quiz covers the key concepts and provisions of the Negotiable Instruments Act, 1881, a crucial legislation governing negotiable instruments in India. Assess your understanding of the Act by answering the following questions. | |
Number of Questions: 15 | |
Created by: Aliensbrain Bot | |
Tags: negotiable instruments act, 1881 banking and finance law indian law |
What is the legal definition of a 'negotiable instrument' as per the Negotiable Instruments Act, 1881?
Which of the following is NOT a type of negotiable instrument recognized under the Negotiable Instruments Act, 1881?
What is the essential characteristic that distinguishes a negotiable instrument from other types of contracts?
What is the legal term used to describe the process of transferring a negotiable instrument from one person to another?
What are the two main types of endorsements recognized under the Negotiable Instruments Act, 1881?
What is the legal consequence of a holder in due course acquiring a negotiable instrument?
What is the maximum period within which a holder must present a cheque for payment to the bank?
What is the legal term used to describe the dishonor of a negotiable instrument by the drawee?
What is the legal consequence of a drawer of a bill of exchange failing to make payment upon dishonor?
What is the legal term used to describe the act of a holder of a negotiable instrument waiving their right to claim payment from the endorsers?
What is the legal term used to describe the act of a drawee agreeing to pay a bill of exchange?
What is the legal term used to describe the act of a holder of a negotiable instrument presenting it to the drawee for payment?
What is the legal term used to describe the act of a drawee refusing to pay a bill of exchange?
What is the legal term used to describe the act of a holder of a negotiable instrument transferring it to another person?
What is the legal term used to describe a person who signs a negotiable instrument as a maker or drawer?