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

    Question

    Ambiguous instruments are those instruments which may be

    construed.
    A Either as promissory note or as cheque Correct Answer Incorrect Answer
    B Either as bill of exchange or as cheque Correct Answer Incorrect Answer
    C Either as promissory note or as bill of exchange Correct Answer Incorrect Answer
    D Either as negotiable instrument or as stamped instruments Correct Answer Incorrect Answer

    Solution

    NI Act Section 17 of NI Act: Ambiguous instruments—Where an instrument may be construed either as a promissory note or bill of exchange, the holder may at his election treat it as either, and the instrument shall be thenceforward treated accordingly.

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