Question
Amit signs an instrument in the following terms "I
promise to pay Babu Rs. 10,000 and all other suns which shall be due to him". What is the legal status of above instrument?Solution
According to Section 4 of Negotiable Instrument Act, a promissory note is: • An instrument (not being bank note or currency note) in writing • Containing an unconditional undertaking • Signed by the maker • To pay a certain sum of money only to or to the order of, a certain person, or to the bearer of the instrument. In question, the sum is not certain as it is mentioned “Rs 10000 and all other sums which shall be due to him”. A Bill of Exchange has three parties. An inchoate instrument is an incomplete instrument
Which of the following elements is NOT included in the circular flow of Income in a simple economy?
Open Network for Digital Commerce (ONDC) is an initiative by ________.
Which among the following countries doesn't share its border frontier with India?
Who among the following is the author of “Principles of Political Economy”?
In 1851, who among the following described the kingdom of Awadh as 'a cherry that will drop into our mouth one day'?
In which year was the Communist Party of India (CPI) officially formed?
Which part of the Indian Constitution is related to special provisions given to the states?
1050 ÷ 25 × 51 – 1942 = ?
After the issuance of securities, investors can purchase such securities in various ways. Which is not a primary market issues?
What is the first step of the process of staffing in an organisation?
