Legal Aspects Of Business - Study Mode

[#801] Statement I A cheque is an unconditional order to a specified banker to pay the sum mentioned in the cheque. Statement II A cheque can be drawn only by a person who has his account with bank while a bill can be drawn by any person. Statement III A cheque may be crossed but a bill of exchange can not be crossed. Which of the following statement(s) is/are true?
Correct Answer

(D) All statements are true

[#802] Which of the following is a mode of discharge of a negotiable instrument?
Correct Answer

(D) All of the above

[#803] Which of the following principles is applicable to trademarks?
Correct Answer

(D) All of the above

[#804] When a party to instrument refuses to accept or pay the instrument, it is called . . . . . . . . of negotiable instrument.
Correct Answer

(A) dishonour

[#805] A cheque which is truncated during the process of clearing cycle is called:
Correct Answer

(D) Truncated cheque