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

    Question

    The term negotiation of the negotiable instrument act

    1881 refers to:
    A The transfer of a bill of exchange, promissory note or cheque to any person, so as to constitute the person the holder there of Correct Answer Incorrect Answer
    B The payment by a bank on a negotiable instrument after due verification of the instrument Correct Answer Incorrect Answer
    C The bargaining between the parties to a negotiable instrument Correct Answer Incorrect Answer
    D All of the above. Correct Answer Incorrect Answer

    Solution

    The Negotiable Instruments Act, 1881 As per S.14. Negotiation.—When a promissory note, bill of exchange or cheque is transferred to any person , so as to constitute the person the holder thereof, the instrument is said to be negotiated.  

    Practice Next