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 accepted Correct Answer Incorrect Answer
D Until the instrument is duly satisfied 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.

Practice Next
×
×