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      Question

      Under the Negotiable Instruments Act, 1881, which of the

      following is NOT a 'Negotiable Instrument' by statute?ย 
      A Promissory Note Correct Answer Incorrect Answer
      B Bill of Exchange Correct Answer Incorrect Answer
      C Cheque Correct Answer Incorrect Answer
      D Fixed Deposit Receipt (FDR) Correct Answer Incorrect Answer
      E None of the above Correct Answer Incorrect Answer

      Solution

      Only Promissory Notes, Bills of Exchange, and Cheques are defined as Negotiable Instruments under Section 13 of the NI Act. An FDR is a "contract" but not a negotiable instrument.

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