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

    Question

    What is the definition of "indorser" in relation to a

    negotiable instrument?
    A The person who signs a negotiable instrument as the maker for its completion Correct Answer Incorrect Answer
    B The person who signs a negotiable instrument for the purpose of its negotiation Correct Answer Incorrect Answer
    C The person who holds a negotiable instrument without signing i Correct Answer Incorrect Answer
    D The person who guarantees the payment of a negotiable instrument Correct Answer Incorrect Answer
    E The person who completes the terms of a negotiable instrument Correct Answer Incorrect Answer

    Solution

    Section 15. Indorsement.—When the maker or holder of a negotiable instrument signs the same, otherwise than as such maker, for the purpose of negotiation, on the back or face thereof or on a slip of paper annexed thereto, or so signs for the same purpose a stamped paper intended to be completed as a negotiable instrument, he is said to indorse the same, and is called the “indorser”

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