Negotiable Instruments Act - Study Mode

[#236] Which among the following is not true with respect to negotiable instruments?
Correct Answer

(B) A cheque cannot be considered as a bill of exchange

[#237] Under Negotiable Instruments Act, for filing a complaint under section 138 of the Act essential condition is -
Correct Answer

(B) The cheque was returned for insufficient funds in the account

[#238] That there must be specific allegation regarding the role played by each of the directors, then only they are liable for prosecution under section 138 of the Negotiable Instruments Act. In which of the following cases this statement was made:
Correct Answer

(C) Tord Engineers India Ltd. v. Nagarjuna Finance Ltd.

[#239] A note under section 99 of the Negotiable Instruments Act should contain among other things
Correct Answer

(B) Charges of notary

[#240] Under Negotiable Instruments Act, how many days after service of notice of demand on drawer, the Cause of Action arises against drawer, if he fails to make payment?
Correct Answer

(C) 15 days