Under section 16 of the Negotiable Instrument Act, 'indorsement in blank' of an instrument means A. Where the indorser does not write anything on the instrument B. Where the indorser signs his name only on the instrument C. Where the indorser writes the name of the person who is directed to pay D. None of the above.

Under section 16 of the Negotiable Instrument Act, 'indorsement in blank' of an instrument means
A. Where the indorser does not write anything on the instrument
B. Where the indorser signs his name only on the instrument
C. Where the indorser writes the name of the person who is directed to pay D. None of the above.
by

1 Answer

Answer :

A. Where the indorser does not write anything on the instrument
by

Related questions

Can the holder of a negotiable instrument indorsed in blank convert the indorsement into an indorsement in full? A. No, such a conversion is not possible under the Negotiable Instruments Act, 1881 (Section 49) B. Yes, the holder can, without signing his own name, and by writing above the indorser's signature a direction to pay to any other person as indorsee, convert the indorsement in blank into an indorsement in full (Section 49) C. Yes, the holder can by signing his own name and by writing above the indorser's signature a direction to pay to any other person as indorsee, convert the indorsement in blank to an indorsement in full (Section 49) D. None of the above.

Description : Can the holder of a negotiable instrument indorsed in blank convert the indorsement into an indorsement in full? A. No, such a conversion is not possible under the Negotiable Instruments Act, 1881 (Section ... the indorsement in blank to an indorsement in full (Section 49) D. None of the above.

Last Answer : C. Yes, the holder can by signing his own name and by writing above the indorser's signature a direction to pay to any other person as indorsee, convert the indorsement in blank to an indorsement in full (Section 49)

'At sight' under section 21 of the Negotiable Instrument Act, 1881, means A. On presentation B. On demand C. On coming into vision D. None of the above.

Description : 'At sight' under section 21 of the Negotiable Instrument Act, 1881, means A. On presentation B. On demand C. On coming into vision D. None of the above.

Last Answer : A. On presentation

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.

Description : 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 ... the instrument C. The bargaining between the parties to a negotiable instrument D. All of the above

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

The indorser is excluded from his liability for dishonour of instrument towards his subsequent holder in case of A. Sans Recourse Endorsement B. Facultative Endorsement C. Sans Frais Endorsement D. None of the above.

Description : The indorser is excluded from his liability for dishonour of instrument towards his subsequent holder in case of A. Sans Recourse Endorsement B. Facultative Endorsement C. Sans Frais Endorsement D. None of the above.

Last Answer : B. Facultative Endorsement

A bill is drawn payable to 'A' or order. 'A' indorses it to 'B', the indorsement not containing the words '"or order" or any equivalent words. Can 'B' negotiate the instrument? A. Yes B. No C. Not always D. None of the above.

Description : A bill is drawn payable to 'A' or order. 'A' indorses it to 'B', the indorsement not containing the words '"or order" or any equivalent words. Can 'B' negotiate the instrument? A. Yes B. No C. Not always D. None of the above.

Last Answer : A. Yes

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

For the purpose of attracting the provisions of section 138 of the Negotiable Instruments Act, 1881, a cheque has to be presented to the bank A. Within a period of six months B. Within a period of six months from the date on which it is drawn or within the period of its validity, whichever is earlier C. Within a period of 15 days from the date on which it is drawn D. None of the above.

Description : For the purpose of attracting the provisions of section 138 of the Negotiable Instruments Act, 1881, a cheque has to be presented to the bank A. Within a period of six months B. Within a period of six ... . Within a period of 15 days from the date on which it is drawn D. None of the above.

Last Answer : B. Within a period of six months from the date on which it is drawn or within the period of its validity, whichever is earlier

As per section 2(8), of the Sales of Goods Act, insolvent means a person A. Who has ceased to pay his debts in the ordinary course of business B. Or cannot pay his debts as they become due C. Both (a) and (b) D. None of above

Description : As per section 2(8), of the Sales of Goods Act, insolvent means a person A. Who has ceased to pay his debts in the ordinary course of business B. Or cannot pay his debts as they become due C. Both (a) and (b) D. None of above

Last Answer : C. Both (a) and (b)

In determining reasonable time for the purpose of payment of a negotiable instrument A. Public holidays are included B. Public holidays are excluded C. Only the holidays observed by the banks are excluded D. None of the above.

Description : In determining reasonable time for the purpose of payment of a negotiable instrument A. Public holidays are included B. Public holidays are excluded C. Only the holidays observed by the banks are excluded D. None of the above.

Last Answer : B. Public holidays are excluded

A protest is made by A. The drawer B. The indorser C. A notary D. None of the above.

Description : A protest is made by A. The drawer B. The indorser C. A notary D. None of the above.

Last Answer : C. A notary

As per section 2(1)(j) of Consumer Protection Act 1986, 'manufacturer' means a person who (i) makes or manufactures any goods or part thereof (ii) does not make or manufacture any goods but assembles parts thereof made or manufactured by others (iii) puts or causes to be put his own mark on any goods made or manufactured by any other manufacturer; Codes: A. (i) & (ii) B. (i) & (iii) C. (ii) & (ii) D. (i), (ii) & (iii)

Description : As per section 2(1)(j) of Consumer Protection Act 1986, 'manufacturer' means a person who (i) makes or manufactures any goods or part thereof (ii) does not make or manufacture any goods but assembles parts thereof made or manufactured by ... B. (i) & (iii) C. (ii) & (ii) D. (i), (ii) & (iii)

Last Answer : D. (i), (ii) & (iii)

Banks are required to maintain SLR under_____ A. Section 24 of the Banking Regulation Act B. Section 35 of the Negotiable Instrument Act, 1881 C. Section 24 of RBI Act D. Section 40 of Indian Contract Act, 1872 E. None of the Above

Description : Banks are required to maintain SLR under_____ A. Section 24 of the Banking Regulation Act B. Section 35 of the Negotiable Instrument Act, 1881 C. Section 24 of RBI Act D. Section 40 of Indian Contract Act, 1872 E. None of the Above

Last Answer : A. Section 24 of the Banking Regulation Act Explanation: SLR is governed by the provisions of Section 24 of the Banking Regulation Act. There is no minimum stipulation on SLR (earlier there used to ... with an amendment to the Banking Regulation Act in 2007). However, SLR can not exceed 40%.

The Negotiable Instruments Act, 1881 came into force on A. 9th December 1881 B. 19th December 1881 C. 1st March 1882 D. none of the above.

Description : The Negotiable Instruments Act, 1881 came into force on A. 9th December 1881 B. 19th December 1881 C. 1st March 1882 D. none of the above.

Last Answer : A. 9th December 1881

The Negotiable Instruments Act, 1881 applies to A. The whole of India B. The whole of India except the State of Jammu and Kashmir C. Those states as notified by the Union Government from time to time in the Official Gazette D. The whole of India except the State of Jammu and Kashmir and the North- Eastern States.

Description : The Negotiable Instruments Act, 1881 applies to A. The whole of India B. The whole of India except the State of Jammu and Kashmir C. Those states as notified by the Union Government from time to ... D. The whole of India except the State of Jammu and Kashmir and the North- Eastern States.

Last Answer : B. The whole of India except the State of Jammu and Kashmir

As per section 2(1)(b) of Consumer Protection Act 1986, "complainant" means A. a consumer B. any consumer association registered under the Companies Act, 1956 C. the Central Government or any State Government, D. All the above

Description : As per section 2(1)(b) of Consumer Protection Act 1986, "complainant" means A. a consumer B. any consumer association registered under the Companies Act, 1956 C. the Central Government or any State Government, D. All the above

Last Answer : D. All the above

If the words "not negotiable" are used with special crossing in a cheque, the cheque is A. Not transferable B. Transferable C. Negotiable under certain circumstances D. None of the above

Description : If the words "not negotiable" are used with special crossing in a cheque, the cheque is A. Not transferable B. Transferable C. Negotiable under certain circumstances D. None of the above

Last Answer : B. Transferable

An ECS transaction gets bounced and you are unable to recover your money from your customer. Under which Act criminal action can be initiated? A. Negotiable Instrument Act 1881 B. Criminal Procedure Code C. Payment and Settlement Systems Act 2007 D. Indian Companies Act 1956

Description : An ECS transaction gets bounced and you are unable to recover your money from your customer. Under which Act criminal action can be initiated? A. Negotiable Instrument Act 1881 B. Criminal Procedure Code C. Payment and Settlement Systems Act 2007 D. Indian Companies Act 1956

Last Answer : C. Payment and Settlement Systems Act 2007 Explanation: Under the Section 25 of Payment and Settlement Systems (PSS) Act, 2007, dishonour of an electronic fund transfer instruction due to insufficiency ... fine or both, similar to the dishonour of a cheque under the Negotiable Instruments Act 1881.

Co-operative banks are regulated by the Reserve Bank of India under _________ A. Banking Regulation Act, 1949 B. Banking Laws (Application to Co-operative Societies) Act, 1965 C. Both (A) and (B) D. Negotiable Instrument Act–1881 E. None of the Above

Description : Co-operative banks are regulated by the Reserve Bank of India under _________ A. Banking Regulation Act, 1949 B. Banking Laws (Application to Co-operative Societies) Act, 1965 C. Both (A) and (B) D. Negotiable Instrument Act–1881 E. None of the Above

Last Answer : C. Both (A) and (B) Explanation: Co-operative banks are regulated by the Reserve Bank of India under the Banking Regulation Act, 1949 and Banking Laws (Application to Co-operative Societies) Act, 1965

When, at the desire of the promisor, the promisee or any other person has done or abstained from doing or, does or abstain from doing or promises to do or to abstain from doing something, such act or abstinence or promise under section 2(d) is called A. Reciprocal promise B. Consideration for the promise C. Counter offer D. Acceptance.

Description : When, at the desire of the promisor, the promisee or any other person has done or abstained from doing or, does or abstain from doing or promises to do or to abstain from doing something, such ... called A. Reciprocal promise B. Consideration for the promise C. Counter offer D. Acceptance.

Last Answer : B. Consideration for the promise

In case of death of a consumer who can prefer compliant under Section 2(1)(b) of Consumer Protection Act 1986 A. his legal heir or representative B. State Government C. consumer association registered under the Companies Act, 1956 D. No one can prefer complaint

Description : In case of death of a consumer who can prefer compliant under Section 2(1)(b) of Consumer Protection Act 1986 A. his legal heir or representative B. State Government C. consumer association registered under the Companies Act, 1956 D. No one can prefer complaint

Last Answer : A. his legal heir or representative

When a cheque bears across its face an addition of the name of a banker, either with or without the words not negotiable, the cheque is considered to have been crossed A. Specially B. Generally C. Normally D. Either a or b or c

Description : When a cheque bears across its face an addition of the name of a banker, either with or without the words not negotiable, the cheque is considered to have been crossed A. Specially B. Generally C. Normally D. Either a or b or c

Last Answer : A. Specially

The functions of State Board are given under: A. Section 16 B. Section 17 C. Section 21 D. Section 45

Description : The functions of State Board are given under: A. Section 16 B. Section 17 C. Section 21 D. Section 45

Last Answer : B. Section 17

The functions of Central Board are given under: A. Section 16 B. Section 19 C. Section 25 D. Section 24

Description : The functions of Central Board are given under: A. Section 16 B. Section 19 C. Section 25 D. Section 24

Last Answer : A. Section 16

The Definition of „Banking‟ is given in _______ A. Negotiable Instrument Act, 1881 B. RBI Act, 1934 C. The Banking Regulation Act, 1949 D. Indian Contract Act, 1872 E. None of the Above

Description : The Definition of „Banking‟ is given in _______ A. Negotiable Instrument Act, 1881 B. RBI Act, 1934 C. The Banking Regulation Act, 1949 D. Indian Contract Act, 1872 E. None of the Above

Last Answer : C. The Banking Regulation Act, 1949 Explanation: As per Section 5(b) of the Banking Regulation Act, 1949 , -banking means the accepting, for the purpose of lending or investment, of deposits ... the public, repayable on demand or otherwise, and withdraw-able by cheque, draft, order or otherwise.

The power to declare an area as a sanctuary or national park of central Government is Wildlife (Protection) Act is under: A. Section 38 B. Section 39 C. Section 18 D. Section 27

Description : The power to declare an area as a sanctuary or national park of central Government is Wildlife (Protection) Act is under: A. Section 38 B. Section 39 C. Section 18 D. Section 27

Last Answer : A. Section 38

Scheduled banks are required to keep cash reserve with RBI, interms of _______ A. Section 24 of the Banking Regulation Act, 1949 B. Section 20 of the Banking Regulation Act, 1949 C. Section 42(i) of the RBI Act, 1934 D. Section 42 of Negotiable Instruments Act

Description : Scheduled banks are required to keep cash reserve with RBI, interms of _______ A. Section 24 of the Banking Regulation Act, 1949 B. Section 20 of the Banking Regulation Act, 1949 C. Section 42(i) of the RBI Act, 1934 D. Section 42 of Negotiable Instruments Act

Last Answer : C. Section 42(i) of the RBI Act, 1934 Explanation: Every bank included in the Second Schedule shall maintain with the Bank an average daily balance the amount.

Which of the following section of Negotiable Instruments Act, 1881 deals with Cheques? A. Section 4 B. Section 5 C. Section 6 D. Section 7 E. None of the Above

Description : Which of the following section of Negotiable Instruments Act, 1881 deals with Cheques? A. Section 4 B. Section 5 C. Section 6 D. Section 7 E. None of the Above

Last Answer : C. Section 6 Explanation: The section 6 of the Negotiable Instruments Act, 1881 deals with Cheques.

The section 4 of the Negotiable Instruments Act, 1881 deals with ________ A. Cheque B. Bills of Exchange C. Promissory Note D. All of the Above E. None of the Above

Description : The section 4 of the Negotiable Instruments Act, 1881 deals with ________ A. Cheque B. Bills of Exchange C. Promissory Note D. All of the Above E. None of the Above

Last Answer : C. Promissory Note Explanation: The section 4 of the Negotiable Instruments Act, 1881 deals with Promissory Note.

In Indian Contract Act, the term consensus ad idem means A. Parties under a mistake B. Parties under the free consent C. Parties agreeing upon the same thing in same sense D. None of these

Description : In Indian Contract Act, the term consensus ad idem means A. Parties under a mistake B. Parties under the free consent C. Parties agreeing upon the same thing in same sense D. None of these

Last Answer : C. Parties agreeing upon the same thing in same sense

A negotiable instrument delivered to a person conditionally or for safe custody, but not for the purpose of negotiation is called _________ A. Protest B. Escrow C. Noting D. All of the Above E. None of the Above

Description : A negotiable instrument delivered to a person conditionally or for safe custody, but not for the purpose of negotiation is called _________ A. Protest B. Escrow C. Noting D. All of the Above E. None of the Above

Last Answer : B. Escrow Explanation: An escrow account is a temporary pass through account held by a third party during the process of a transaction between two parties.

In India the concept of ‘minimum needs’ and ‘directed anti poverty programmes’ were the innovation of? A. Fourth five year plan B. Fifth five year plan C. Sixth five year plan D. Seventh five year plan E. None of these

Description : In India the concept of ‘minimum needs’ and ‘directed anti poverty programmes’ were the innovation of? A. Fourth five year plan B. Fifth five year plan C. Sixth five year plan D. Seventh five year plan E. None of these

Last Answer : B. Fifth five year plan

As per the doctrine of caveat emptor incorporated in Section 16, there is no implied conditions or warranty in a contract of sale as to the A. Merchantability. B. Wholesomeness. C. Quality or fitness for buyer's purpose. D. None of these.

Description : As per the doctrine of caveat emptor incorporated in Section 16, there is no implied conditions or warranty in a contract of sale as to the A. Merchantability. B. Wholesomeness. C. Quality or fitness for buyer's purpose. D. None of these.

Last Answer : C. Quality or fitness for buyer's purpose.

If you want to ensure that your money will be secured if cheques sent are wasted in the post, you should A) Always pay by cash B) Cross your Cheques ‘Account Payee only, Not Negotiable.’ C) Always get the money in person D) Not use the postal service in future

Description : If you want to ensure that your money will be secured if cheques sent are wasted in the post, you should A) Always pay by cash B) Cross your Cheques ‘Account Payee only, Not Negotiable.’ C) Always get the money in person D) Not use the postal service in future

Last Answer : Answer: B

The Air Act have A. 56 Section B. 54 Section C. 58 Section D. 62 Section

Description : The Air Act have A. 56 Section B. 54 Section C. 58 Section D. 62 Section

Last Answer : B. 54 Section

The term condition is defined in which of the following Section of the Sale of Goods Act. 1930? A. Section 12 (1) B. Section 12 (2) C. Section 12 (3) D. Section 12 (4)

Description : The term condition is defined in which of the following Section of the Sale of Goods Act. 1930? A. Section 12 (1) B. Section 12 (2) C. Section 12 (3) D. Section 12 (4)

Last Answer : B. Section 12 (2)

Section 4, of the Sale of Goods Act 1930, deals with A. Sale B. Agreement to sell C. Both (a) and (b) D. None of above

Description : Section 4, of the Sale of Goods Act 1930, deals with A. Sale B. Agreement to sell C. Both (a) and (b) D. None of above

Last Answer : C. Both (a) and (b)

As per section 2(12), of the Sale of Goods Act, quality of goods includes A. State of goods B. Conditions of goods C. Both (a) and (b) D. None of above

Description : As per section 2(12), of the Sale of Goods Act, quality of goods includes A. State of goods B. Conditions of goods C. Both (a) and (b) D. None of above

Last Answer : C. Both (a) and (b)

Section 2, sub-section______, of the Sale of Goods Act, 1930 defines "Goods" A. 5 B. 7 C. 6 D. None of above

Description : Section 2, sub-section______, of the Sale of Goods Act, 1930 defines "Goods" A. 5 B. 7 C. 6 D. None of above

Last Answer : D. None of above

What does Section 17 of the Indian Contract Act, define? A. Coercion B. Undue influence C. Fraud D. Mistake

Description : What does Section 17 of the Indian Contract Act, define? A. Coercion B. Undue influence C. Fraud D. Mistake

Last Answer : C. Fraud

Identify the statement that is consistent with utilitarian ethical theory: A. Adhering to a set of principles may well forbid an act that would otherwise provide overall net good consequences. B. No act is ever morally right or wrong in all cases, in every situation. It will all depend on the act's consequences. C. Some actions like murder, theft, rape, and lying are wrong of their very nature, the kind of acts they are. No amount of net good consequences could ever justify them. D. The end never justifies the means.

Description : Identify the statement that is consistent with utilitarian ethical theory: A. Adhering to a set of principles may well forbid an act that would otherwise provide overall net good consequences. B. No ... amount of net good consequences could ever justify them. D. The end never justifies the means.

Last Answer : B. No act is ever morally right or wrong in all cases, in every situation. It will all depend on the act's consequences.

Time period that is considered from the inception of the credit, investment or negotiable instrument and ends upon the maturity or expiry of the instrument is referred as ________ A. Amortisation Period B. Amortising Swap C. Asset Backed Security D. Attrition Analysis

Description : Time period that is considered from the inception of the credit, investment or negotiable instrument and ends upon the maturity or expiry of the instrument is referred as ________ A. Amortisation Period B. Amortising Swap C. Asset Backed Security D. Attrition Analysis

Last Answer : A. Amortisation Period Explanation: The amortisation period on a mortgage is the total length of time it will take you to pay off your mortgage.

Which of the following is the negotiable instrument? A. Fixed Deposit of a Bank B. Share certificate issued by a PSU C. Demand Draft issued by a bank D. Debenture of a company E. Airway Receipt

Description : Which of the following is the negotiable instrument? A. Fixed Deposit of a Bank B. Share certificate issued by a PSU C. Demand Draft issued by a bank D. Debenture of a company E. Airway Receipt

Last Answer : C. Demand Draft issued by a bank Explanation: A demand draft is a negotiable instrument similar to a bill of exchange. A bank issues a demand draft to a client (drawer), directing another bank (drawee) or one of its own branches to pay a certain sum to the specified party (payee).

Notice of dishonour must be given A. To the drawer and drawee only B. To the drawer, acceptor and endorser(s) only C. To all the parties liable on the instrument or to their duly authorized agent D. To all the parties who are secondarily liable on the instrument or to their duly authorized agent

Description : Notice of dishonour must be given A. To the drawer and drawee only B. To the drawer, acceptor and endorser(s) only C. To all the parties liable on the instrument or to their duly ... agent D. To all the parties who are secondarily liable on the instrument or to their duly authorized agent

Last Answer : D. To all the parties who are secondarily liable on the instrument or to their duly authorized agent

Consent is free under section 14 if not caused by– A. coercion & undue influence B. fraud and misrepresentation C. mistake subject to the provisions of sections 20, 21 and 22 D. all of the above

Description : Consent is free under section 14 if not caused by– A. coercion & undue influence B. fraud and misrepresentation C. mistake subject to the provisions of sections 20, 21 and 22 D. all of the above

Last Answer : D. all of the above

Promises which form the consideration or part thereof, for each other under section 2(F) are called A. Acceptances for different proposals B. Agreements C. Reciprocal promises D. Consideration

Description : Promises which form the consideration or part thereof, for each other under section 2(F) are called A. Acceptances for different proposals B. Agreements C. Reciprocal promises D. Consideration

Last Answer : C. Reciprocal promises

Consent is free under section 14 if not caused by A. Coercion & undue influence B. Fraud and misrepresentation C. Mistake subject to the provisions of sections 20, 21 and 22 D. All the above

Description : Consent is free under section 14 if not caused by A. Coercion & undue influence B. Fraud and misrepresentation C. Mistake subject to the provisions of sections 20, 21 and 22 D. All the above

Last Answer : D. All the above

Pricing cues such as sale signs and prices that end in 9 become more influential when ________. A. Consumer price knowledge is poor B. Items are purchased frequently C. Items have been on the market a long time D. Prices are consistent year-round E. They are employed frequently

Description : Pricing cues such as sale signs and prices that end in 9 become more influential when ________. A. Consumer price knowledge is poor B. Items are purchased frequently C. Items have been on the market a long time D. Prices are consistent year-round E. They are employed frequently

Last Answer : A. Consumer price knowledge is poor

A boy was at a carnival and went to a booth where a man said to the boy, 'If I write your exact weight on this piece of paper then you have to give me $50, but if I cannot, I will pay you $50.' The boy looked around and saw no scale so he agrees, thinking no matter what the carny writes he'll just say he weighs more or less. In the end the boy ended up paying the man $50.How did the man win the bet? -Riddles

Description : A boy was at a carnival and went to a booth where a man said to the boy, 'If I write your exact weight on this piece of paper then you have to give me $50, but if I cannot, I will pay you $50.' ... more or less. In the end the boy ended up paying the man $50.How did the man win the bet? -Riddles

Last Answer : The man did exactly as he said he would and wrote 'your exact weight' on the paper