Negotiable Instruments Act - Study Mode
[#71] Where an indorser of an instrument excludes his liability and afterwards becomes the holder of the instrument, who are liable to him?
Correct Answer
(B) All intermediate indorsers are liable to him
[#72] The presumption regarding dishonour of a cheque on production of a bank slip is
Correct Answer
(A) Rebuttable
[#73] The Negotiable Instruments Act provides for payment of interim compensation by the drawer of the cheque to the complainant. Such interim compensation should not exceed . . . . . . . . of the amount of the cheque.
Correct Answer
(B) 20%
[#74] Cheque is always payable on demand.
Correct Answer
(A) True
[#75] If the indorser signs his name and adds a direction to pay the amount mentioned in the instrument to a specified person, the indorsement is said to be:
Correct Answer
(B) Indorsement in full