📢 Too many exams? Don’t know which one suits you best? Book Your Free Expert 👉 call Now!
  • google app store apple app store
    • ✖

      Question

      Which of the following is punishable offence?  

      i.             If a cheque is issued without signature ii.            If a cheque is dishonoured for lack of funds in the account          iii.           If a post dated cheque is issues without keeping sufficient funds in the account iv             If an uncrossed cheque is crossed by the holder
      A Only i Correct Answer Incorrect Answer
      B Only ii Correct Answer Incorrect Answer
      C Only i, ii and iv Correct Answer Incorrect Answer
      D Only ii, iii and iv Correct Answer Incorrect Answer
      E All the above Correct Answer Incorrect Answer

      Solution

      The Negotiable Instruments Act, 1881 is applicable for the cases of dishonour of cheque. This Act has been amended many times since 1881. According to Section 138 of the Act, the dishonour of cheque is a criminal offence and is punishable by imprisonment up to two years or with monetary penalty or with both. 

      Practice Next
      More Finance Questions

      Relevant for Exams:

      ask-question