Negotiable Instruments Act - Study Mode
[#126] Under section 76(b) of the Negotiable Instruments Act, 1881, the engagement to pay must have been entered into
Correct Answer
(C) Prior to maturity (Thakur Din v. Oudh Commercial Bank Ltd., AIR 1999 Oudh 16)
[#127] All cheques are bill of exchange, but all bills of exchange are not cheques
Correct Answer
(C) True
[#128] Which one of the following is a prescribed period of limitation for taking cognizance to the Court against the offence committed under Section 138 of the Negotiable Instruments Act, 1881?
Correct Answer
(D) 30 days from the date of cause of action arises if the complaint made in writing to the Court
[#129] The maximum amount of fine which can be imposed under Section 138 of Negotiable Instruments Act is
Correct Answer
(D) Twice of the cheque's amount
[#130] A draws a bill on B for 1 500 payable to the order of A. B accepts the bill, but subsequently dishonours it by non-payment. Asues B on the bill. B proves that it was accepted for value as to 1 400, and as an accommodation to the plaintiff as to the residue. Thus, as per the provisions of the Negotiable Instruments Act, 1881, A can only recover the following amount:
Correct Answer
(C) 1 400