New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    As per the Negotiable Instrument Act in a promissory

    note or bill of exchange the expressions “at sight” and “on presentment” means_____________
    A On demand Correct Answer Incorrect Answer
    B On presentation Correct Answer Incorrect Answer
    C On coming into vision Correct Answer Incorrect Answer
    D Either a or b Correct Answer Incorrect Answer
    E Both b & c Correct Answer Incorrect Answer

    Solution

    Section 21 Negotiable Instrument Act: At sight, On presentment, After sight—In a promissory note or bill of exchange the expressions “at sight” and “on presentment” means on demand. The expression “after sight” means, in a promissory note, after presentment for sight, and, in a bill of exchange after acceptance, or noting for non-acceptance, or protest for non-acceptance.

    Practice Next