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.

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