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

    Question

    As per the Negotiable Instruments Act which is not

    correct for protest ______________
    A Subscription of the public making the protest Correct Answer Incorrect Answer
    B Name of the person for whom and against whom the instrument has been protested Correct Answer Incorrect Answer
    C Either the instrument itself, or a literal transcript of the instrument and of everything written or printed thereupon Correct Answer Incorrect Answer
    D Promissory note or bill of exchange if dishonoured by non-acceptance or non-payment, the holder may cause such dishonour to be noted and certified by a notary public Correct Answer Incorrect Answer

    Solution

    Section 101. Contents of protest.—A protest under section 100 must contain— (a) either the instrument itself, or a literal transcript of the instrument and of everything written or printed thereupon; (b) the name of the person for whom and against whom the instrument has been protested; (c) a statement that payment or acceptance, or better security, as the case may be, has been demanded of such person by the notary public; the terms of his answer, if any, or a statement that he gave no answer or that he could not be found; (d) when the note or bill has been dishonoured, the place and time of dishonour, and, when better security has been refused, the place and time of refusal; (e) the subscription of the notary public making the protest; (f) in the event of an acceptance for honour or of a payment for honour, the name of the person by whom, of the person for whom, and the manner in which, such acceptance or payment was offered and effected.

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