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.

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.
by

1 Answer

Answer :

A. Holder of the instrument
by

Related questions

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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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.

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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.

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