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      Question

      Every prior party to a negotiable instrument is liable

      thereon to a holder in due course
      A Until the instrument is presented Correct Answer Incorrect Answer
      B Until the instrument matures Correct Answer Incorrect Answer
      C Until the instrument is duly satisfied Correct Answer Incorrect Answer
      D Until the instrument is accepted Correct Answer Incorrect Answer
      E Until the instrument is received Correct Answer Incorrect Answer

      Solution

      Section 36 of Negotiable Instruments Act Liability of prior parties to holder in due course—Every prior party to a negotiable instrument is liable thereon to a holder in due course until the instrument is duly satisfied.

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