Negotiable Instruments Act MCQ question and answer

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Each section contains 100 MCQs on Negotiable Instruments Act .

Amendment in Negotiable Instruments Act, 1881 made in 1988 has introduced an important provision relating to:

A) Easy negotiability B) Dishonour of cheque C) Bank draft D) Privileges of holder in due course

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

For what term of imprisonment an offender under section 138 of the Negotiable Instruments Act can be punished

A) For a term which may extend to two years B) For a term which may extend to one year C) For a term exceeding three years D) None of the above

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

No one other than RBI and Central Government can make a Promissory note payable to bearer.

A) True B) False C) Partly true D) Partly false

Discuss

Answer & Solution

Answer: Option A

No explanation is given for this question. Let's Discuss on Board

A draws a bill on B. B accepts the bill without any consideration. The bill is transferred to C without consideration. C transferred it to D for value. Decide as per the provisions of the Negotiable Instruments Act, 1881 -

A) D can sue only A B) D can sue A or B only C) D can sue any of the parties A, B or C D) D cannot sue any of the parties A, B or C

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

Cheque bouncing cases charged under section 138 of Negotiable Instruments Act is trailed by

A) Bank Tribunal B) Consumer Forum C) Magistrate Court D) Sessions Court

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

The term "a cheque in the electronic form" is defined in the Negotiable Instruments Act, 1881 under:

A) Section 6(a) B) Section 6(b) C) Explanation 1(a) of Section 6 D) None of these

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

The maximum amount which may be awarded as interim compensation under Section 143A of the Negotiable Instruments Act, 1881 is

A) 10% of the amount of cheque B) 20% of the amount of cheque C) 30% of the amount of cheque D) 40% of the amount of cheque

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

Chapter XVII containing sections 138 to 142 was introduced in the Negotiable Instruments Act

A) Act 65 of 1988 B) Act 66 of 1988 C) Act 67 of 1988 D) Act 68 of 1988

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

A draws a cheque in favour of M, a minor. M endorses the same in favour of X. The cheque is dishonoured by the bank on grounds of inadequate funds. As per the provisions of Negotiable Instruments Act, 1881:

A) M is liable to X B) X can proceed against A C) No one is liable in this case D) M can proceed against A

Discuss

Answer & Solution

Answer: Option B

No explanation is given for this question. Let's Discuss on Board

Which of the following is true about a 'Bank Draft'?

A) It is a promissory note B) It is not a negotiable instrument C) It is very much like a cheque D) It is a bill of exchange

Discuss

Answer & Solution

Answer: Option C

No explanation is given for this question. Let's Discuss on Board

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Negotiable Instruments Act MCQ question and answer | Law MCQ question