Dishonour by non-acceptance takes place
A. When the bill is properly presented for acceptance, except where presentment is excused, but the drawee makes the default in accepting it
B. When the bill is properly presented for acceptance, except where presentment is excused, but the drawee makes the default in paying it
C. When the bill is properly presented for payment, except where presentment is excused, but the drawee fails to accept it
D. None of the above
Answer: Option A
This Question Belongs to Law >> Negotiable Instruments Act
The term 'legal representative' in section 29 of the Negotiable Instruments Act, 1881
A. Does not include executors or administrator (Rama v. Praoin, AIR 1926 Mad 389)
B. Includes executors or administrator (K. Subbanna v. K. Subbarayudu, AIR 1926 Mad 390)
C. Includes executors but does not include administrators (P. Nayar v. T. Ramanna, AIR 1929 Mad 389)
D. Includes only administrators but does not include executors (P. K. Pati v. Damodar Sahu, AIR 1953 Ori 179)
In the case of a promissory note which is not negotiable
A. Notice of dishonour is compulsory
B. No notice of dishonour is necessary
C. Negotiable Instruments Act is silent on this aspect
D. Indorsement is necessary
The endorsement of a negotiable instrument is followed by delivery
A. Yes
B. No
C. Both (A) and (B)
D. None of the above
'Truncated Cheque' is dealt within which section of the Negotiable Instruments Act, 1881?
A. Section 5
B. Section 6
C. Section 7
D. Section 8
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