Negotiable Instruments Act MCQ question and answer

91

Negotiable instrument is defined under

A) Section 25 of Reserve Bank of India B) Section 13 of Banking Regulation Act C) Section 13 of Negotiable Instruments Act D) Section 3 of Banking Instruments Act

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Answer & Solution

Answer: Option C

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92

When a Negotiable Instrument is dishonoured, the liable party pays compensation to

A) Holder B) Bank C) Endorser D) Court

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Answer & Solution

Answer: Option A

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93

The judgment in Dashrath Rupsingh Rathod v. State of Maharashtra related to

A) Liability of Directors B) Limitation to file Complaint C) Summary trials D) Territorial jurisdiction

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Answer & Solution

Answer: Option D

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94

A notice of protest under section 102 of the Negotiable Instruments Act, 1881

A) May be given by the notary public who makes the protest B) Must always be given by the notary public who makes the protest C) Must be given by the holder D) None of the above

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Answer & Solution

Answer: Option A

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95

The delay in filing a complaint under Section 138 of the Negotiable Instruments Act, 1881, can be condoned:

A) Under Section 5 of the Indian Limitation Act, 1963 B) Under Section 138 of the Negotiable Instruments Act, 1881 C) Under Section 142 of the Negotiable Instruments Act, 1881 D) Under Section 143 of the Negotiable Instruments Act, 1881

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Answer & Solution

Answer: Option C

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96

Under which provision of the Negotiable Instruments Act, a person who is nominated as a Director of a company by virtue of his holding any office or employment in the Central Government or State Government or a Financial Corporation owned or controlled by the Central or State Government, is not liable for prosecution?

A) Section 140 B) Section 141 C) Section 143 D) Section 142

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Answer & Solution

Answer: Option B

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97

Who should make a complaint to a court for the purpose of taking cognizance of an offence under section 138?

A) The payer or as the case may be, the holder in due course of the cheque B) Any person who is effected can make a complaint C) The payee with the written permission of the drawee D) None of the above

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Answer & Solution

Answer: Option A

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98

Within how much time from the date on which cause of action arises, the complaint for the offence punishable under Section 138 of the Negotiable Instruments Act should be filed?

A) One month B) Thirty days C) Three months D) Six months

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Answer & Solution

Answer: Option A

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99

What is the meaning of payment of cheque crossed specially?

A) The banker on whom it is drawn shall not pay it otherwise than to the banker to whom it is crossed, or his agent for collection B) The banker on whom the cheque is drawn shall not pay it otherwise than to a banker C) Payment of cheque amount across the counter D) Payment of cheque amount to the agent of payee

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Answer & Solution

Answer: Option A

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100

Which of the following statements is correct in relation to bouncing of a cheque?

A) Offence of cheque bouncing is a compoundable offence B) Every trial of cheque bouncing shall be concluded within 3 months C) In trial of such cases, provisions of u/s 262 to 265 of CrPC will not apply D) In case of conviction in summary trial of such cases, Magistrate shall pass a sentence of imprisonment for a term of 2 years

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Answer & Solution

Answer: Option A

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Negotiable Instruments Act MCQ question and answer | Law MCQ question