Question

Negotiable Instrument according to Section 13 of the Negotiable Instrument Act, 1881 do not include__________.

A Promissory note Correct Answer Incorrect Answer
B Letter of credit Correct Answer Incorrect Answer
C Cheque Correct Answer Incorrect Answer
D Bill of exchange Correct Answer Incorrect Answer

Solution

Section 13 of NI Act - “Negotiable instrument”—(1) A “negotiable instrument” means a promissory note, bill of exchange or cheque payable either to order or to bearer.

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