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      Question

      What is the period of limitation given in Schedule of

      Limitation act for a Bill of exchange andย  a promissory note? ย  ย  ย ย 
      A 3 years Correct Answer Incorrect Answer
      B 3 years for bill of exchange and 2 years for a promissory note Correct Answer Incorrect Answer
      C 4 years Correct Answer Incorrect Answer
      D 3 years for promissory note and 5 years for Bill of exchange Correct Answer Incorrect Answer

      Solution

      The Schedule Item no. 31. On a bill of exchange or promissory note payable at a fixed time after date. Period of Limitation is - Three years from the date when the bill or note falls due

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