New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    For the purpose of Section 141 of Negotiable Instrument

    Act, a company does not mean or include
    A A body corporate Correct Answer Incorrect Answer
    B A firm Correct Answer Incorrect Answer
    C A proprietary concern Correct Answer Incorrect Answer
    D Association of individuals Correct Answer Incorrect Answer

    Solution

    Under Section 141- For the purposes of this section, — (a) “company” means any body corporate and includes a firm or other association of  individuals; and (b) “director”, in relation to a firm, means a partner in the firm.

    Practice Next