Question
Under Negotiable Instrument Act, no notice of dishonour
is necessarySolution
Section 98 of Negotiable Instrument Act- . When notice of dishonour is unnecessary—No notice of dishonour is necessary— (a) when it is dispensed with by the party entitled thereto; (b) in order to charge the drawer, when he has countermanded payment; (c)when the party charged could not suffer damage for want of notice; (d) when the party entitled to notice cannot after due search be found; or the party bound to give notice is, for any other reason, unable without any fault of his own to give it; (e) to charge the drawers, when the acceptor is also a drawer; (f) in the case of a promissory note which is not negotiable; (g) when the party entitled to notice, knowing the facts, promises unconditionally to pay the amount due on the instrument.
'A' and 'B' began a business with investments of Rs. 8,000 and Rs. 15,500, respectively. After five months, 'A' increased his investment by 50%, while '...
‘A’ and ‘B’ invested Rs. 4800 and Rs. 3200, respectively in a business, together. After 6 months, ‘A’ withdrew 35% of his initial investment...
A and B enter into a partnership with their initial sum of Rs.30000 and Rs.48000 respectively. After 6 months, a third person C also joins them with his...
Rajiv, Sanju and Tanu started a business with the investment of Rs. (z-400), (z-1000) and (z+200) respectively. After four months, Rajiv decreased his i...
A, B and C invested in partnership. A invest Rs.10000 for 4 months, B invests Rs.8000 for 3 months and C invests Rs.14000 for 2 months. C is working par...
Ravi and Mohan invested Rs. 32000 and Rs. 20000 respectively in a business. After 6 months, Sohan joined them with an investment of Rs. 36000. At the en...
Humpty opened a workshop investing Rs.80,000. He invested additional amount of Rs.10,000 every year. After two years his friend Bunty joined him with a...
Raj invested Rs.36000 in a business. After 6 months, Rohan joins him with an investment of Rs.P. If at the end of the year the profit is Rs.52000 and pr...
Radha started a dairy farm by investing Rs. 80,000. After 4 months, Krishna joined her, contributing Rs. 1,20,000 to the investment. At the end of one y...
A started a business with an investment of Rs.1400. After some months, B joins the business with an investment of Rs.2400 and after two more months C jo...