What best defines "valuable security" under Section

Q: Answer-What best defines 'valuable security' under Section 2(31)?

Section 231 details it as a document that creates, extends, transfers, restricts, extinguishes, or releases legal rights, or acknowledges legal liability.

2(31)?

A A document acknowledging debt only Correct Answer Incorrect Answer

B A document creating or releasing legal rights or liabilities Correct Answer Incorrect Answer

C Any government-issued identity proof Correct Answer Incorrect Answer

D A negotiable instrument only Correct Answer Incorrect Answer

E A certificate of ownership for real estate only Correct Answer Incorrect Answer

Solution

Section 2(31) details it as a document that creates, extends, transfers, restricts, extinguishes, or releases legal rights, or acknowledges legal liability.

Practice Next

More Other Laws and Acts Questions