If an instrument may be construed either as a promissory note or bill of exchange, it is A. A valid instrument B. An ambiguous instrument C. A returnable instrument D. None of the above.

If an instrument may be construed either as a promissory note or bill of exchange, it is A. A valid instrument
B. An ambiguous instrument
C. A returnable instrument
D. None of the above.
by

1 Answer

Answer :

A valid instrument
by

Related questions

To whom of the following, payment of the amount due on a promissory note, bill of exchange or cheque must be made in order to discharge the maker or acceptor A. Holder of the instrument B. Indorser of the instrument C. Indorsee of the instrument D. None of the above.

Description : To whom of the following, payment of the amount due on a promissory note, bill of exchange or cheque must be made in order to discharge the maker or acceptor A. Holder of the instrument B. Indorser of the instrument C. Indorsee of the instrument D. None of the above.

Last Answer : A. Holder of the instrument

The term 'negotiation' in section 14 of the Negotiable Instruments Act, 1881 refers to A. The transfer of a bill of exchange, promissory note or cheque to any person, so as to constitute the person the holder thereof B. The payment by a bank on a negotiable instrument after due verification of the instrument C. The bargaining between the parties to a negotiable instrument D. All of the above.

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Last Answer : A. The transfer of a bill of exchange, promissory note or cheque to any person, so as to constitute the person the holder thereof

Presentment of an acceptance is required in case of A. Every Bill of exchange B. Every Bill of exchange payable after sight C. Every promissory note D. Every cheque

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Last Answer : D. None of the above.

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Last Answer : A. Where the indorser does not write anything on the instrument

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