The Negotiable Instruments Act, 1882 recognizes the concept of negotiation, which means:a.Transferring the ownership of the instrument to another personb.Altering the terms and conditions of the instrumentc.Cancelling the instrument and rendering it invalidd.Revoking the liability of the parties involved
Question
The Negotiable Instruments Act, 1882 recognizes the concept of negotiation, which means:a.Transferring the ownership of the instrument to another personb.Altering the terms and conditions of the instrumentc.Cancelling the instrument and rendering it invalidd.Revoking the liability of the parties involved
Solution
The Negotiable Instruments Act, 1882 recognizes the concept of negotiation as a. Transferring the ownership of the instrument to another person. This means that the ownership of the instrument can be legally transferred from one person to another.
Similar Questions
The Negotiable Instruments Act, 1882 governs the following negotiable instruments, except:a.Promissory notesb.Bills of exchangec.Chequesd.Money ordersClear my choice
negotiable instrument
The Negotiable Instruments Act, 1882 provides a certain period of time for presenting a promissory note or bill of exchange for payment. This period is known as the:a.Maturity periodb.Grace periodc.Negotiation periodd.Limitation period
It refers to negotiable instruments which promise to pay a certain amount within a particular period of time.a.None of the choicesb.Promissory Notec.Both answersis correctd.Bill of Exchange
As per Sec 130 of N.I.Act, a cheque crossed "Not Negotiable" __________.
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