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

    Question

    For the purpose of Section 141 of Negotiable Instrument

    Act, a company does not mean or include
    A A firm Correct Answer Incorrect Answer
    B A body corporate Correct Answer Incorrect Answer
    C A proprietary concern Correct Answer Incorrect Answer
    D Association of individuals Correct Answer Incorrect Answer

    Solution

    Under Section 141- For the purposes of this section-(a) “company” means any body corporate and includes a firm or other association of individuals; and (b) “director”, in relation to a firm, means a partner in the firm.

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