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Your results are here!! for" Negotiable Instruments Act, 1881 "
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Question 1 of 20
1. Question
In the context of the Negotiable Instruments Act, 1881, what does the term ‘negotiable‘ primarily refer to?
Correct
The term ‘negotiable‘ refers to the transferability of the instrument.
Incorrect
The term ‘negotiable‘ refers to the transferability of the instrument.
Unattempted
The term ‘negotiable‘ refers to the transferability of the instrument.
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Question 2 of 20
2. Question
In the context of the Negotiable Instruments Act, what does an ‘instrument‘ refer to?
Correct
An instrument is a legal document that carries a financial obligation.
Incorrect
An instrument is a legal document that carries a financial obligation.
Unattempted
An instrument is a legal document that carries a financial obligation.
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Question 3 of 20
3. Question
What is a primary purpose of the Negotiable Instruments Act, 1881?
Correct
The Act provides a legal framework for the creation, transfer, and enforcement of negotiable instruments.
Incorrect
The Act provides a legal framework for the creation, transfer, and enforcement of negotiable instruments.
Unattempted
The Act provides a legal framework for the creation, transfer, and enforcement of negotiable instruments.
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Question 4 of 20
4. Question
In which year was the Negotiable Instruments Act first drafted by the 3rd Indian Law Commission?
Correct
The roots of the Act date back to 1866, when it was first drafted by the 3rd Indian Law Commission.
Incorrect
The roots of the Act date back to 1866, when it was first drafted by the 3rd Indian Law Commission.
Unattempted
The roots of the Act date back to 1866, when it was first drafted by the 3rd Indian Law Commission.
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Question 5 of 20
5. Question
In which year was the Bill for the Negotiable Instruments Act introduced again after revisions?
Correct
After objections and revisions, the Bill was introduced again in 1880.
Incorrect
After objections and revisions, the Bill was introduced again in 1880.
Unattempted
After objections and revisions, the Bill was introduced again in 1880.
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Question 6 of 20
6. Question
In which year was the Negotiable Instruments Bill passed into law?
Correct
The Bill was passed into law in 1881.
Incorrect
The Bill was passed into law in 1881.
Unattempted
The Bill was passed into law in 1881.
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Question 7 of 20
7. Question
Which instrument is described as one of the oldest forms of credit instruments in India?
Correct
The Hundi is described as one of the oldest forms of credit instruments in India.
Incorrect
The Hundi is described as one of the oldest forms of credit instruments in India.
Unattempted
The Hundi is described as one of the oldest forms of credit instruments in India.
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Question 8 of 20
8. Question
Historically, Hundis were widely used for which purposes?
Correct
Hundis historically facilitated trade and remittances.
Incorrect
Hundis historically facilitated trade and remittances.
Unattempted
Hundis historically facilitated trade and remittances.
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Question 9 of 20
9. Question
Which section of the Negotiable Instruments Act, 1881 defines a negotiable instrument?
Correct
Section 13 defines a negotiable instrument as a promissory note, bill of exchange, or cheque payable to order or bearer.
Incorrect
Section 13 defines a negotiable instrument as a promissory note, bill of exchange, or cheque payable to order or bearer.
Unattempted
Section 13 defines a negotiable instrument as a promissory note, bill of exchange, or cheque payable to order or bearer.
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Question 10 of 20
10. Question
Which set of instruments is specifically covered by the definition of negotiable instrument under Section 13?
Correct
Section 13 covers promissory notes, bills of exchange, and cheques payable to order or bearer.
Incorrect
Section 13 covers promissory notes, bills of exchange, and cheques payable to order or bearer.
Unattempted
Section 13 covers promissory notes, bills of exchange, and cheques payable to order or bearer.
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Question 11 of 20
11. Question
According to Section 1, to which geographical area does the Negotiable Instruments Act, 1881 extend?
Correct
Section 1 states that the Act extends to the whole of India.
Incorrect
Section 1 states that the Act extends to the whole of India.
Unattempted
Section 1 states that the Act extends to the whole of India.
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Question 12 of 20
12. Question
Which Act is specifically mentioned in Section 1 as not being affected by the Negotiable Instruments Act?
Correct
Section 1 states that the Negotiable Instruments Act does not affect the Indian Paper Currency Act, 1871.
Incorrect
Section 1 states that the Negotiable Instruments Act does not affect the Indian Paper Currency Act, 1871.
Unattempted
Section 1 states that the Negotiable Instruments Act does not affect the Indian Paper Currency Act, 1871.
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Question 13 of 20
13. Question
What is a promissory note under the description provided?
Correct
A promissory note is a written promise by the maker to pay a specified sum of money to the payee on demand or at a future date.
Incorrect
A promissory note is a written promise by the maker to pay a specified sum of money to the payee on demand or at a future date.
Unattempted
A promissory note is a written promise by the maker to pay a specified sum of money to the payee on demand or at a future date.
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Question 14 of 20
14. Question
Who makes the promise to pay in a promissory note?
Correct
The maker is the party who makes the promise to pay the specified sum in a promissory note.
Incorrect
The maker is the party who makes the promise to pay the specified sum in a promissory note.
Unattempted
The maker is the party who makes the promise to pay the specified sum in a promissory note.
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Question 15 of 20
15. Question
What is a bill of exchange as described in the provided material?
Correct
A bill of exchange is a written order from one party to another to pay a specified amount to a third party.
Incorrect
A bill of exchange is a written order from one party to another to pay a specified amount to a third party.
Unattempted
A bill of exchange is a written order from one party to another to pay a specified amount to a third party.
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Question 16 of 20
16. Question
A cheque is described as what type of instrument?
Correct
A cheque is a specific type of bill of exchange drawn on a bank and payable on demand.
Incorrect
A cheque is a specific type of bill of exchange drawn on a bank and payable on demand.
Unattempted
A cheque is a specific type of bill of exchange drawn on a bank and payable on demand.
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Question 17 of 20
17. Question
According to the provided material, into how many chapters is the Negotiable Instruments Act, 1881 classified?
Correct
The provided material states that the Act comprises 148 sections classified into 17 chapters.
Incorrect
The provided material states that the Act comprises 148 sections classified into 17 chapters.
Unattempted
The provided material states that the Act comprises 148 sections classified into 17 chapters.
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Question 18 of 20
18. Question
What is the subject matter of Chapter IV of the Negotiable Instruments Act according to the provided structure?
Correct
Chapter IV covers negotiation and comprises Sections 46 to 60 according to the provided structure.
Incorrect
Chapter IV covers negotiation and comprises Sections 46 to 60 according to the provided structure.
Unattempted
Chapter IV covers negotiation and comprises Sections 46 to 60 according to the provided structure.
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Question 19 of 20
19. Question
What does Chapter XVII deal with according to the provided structure of the Act?
Correct
Chapter XVII, comprising Sections 138 to 148 in the provided material, deals with penalties in cases of dishonour of certain cheques for insufficiency of funds.
Incorrect
Chapter XVII, comprising Sections 138 to 148 in the provided material, deals with penalties in cases of dishonour of certain cheques for insufficiency of funds.
Unattempted
Chapter XVII, comprising Sections 138 to 148 in the provided material, deals with penalties in cases of dishonour of certain cheques for insufficiency of funds.
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Question 20 of 20
20. Question
Which subject is covered by Chapter XIV according to the provided structure of the Negotiable Instruments Act, 1881?
Correct
Chapter XIV, comprising Sections 123 to 131A in the provided structure, deals with crossed cheques.
Incorrect
Chapter XIV, comprising Sections 123 to 131A in the provided structure, deals with crossed cheques.
Unattempted
Chapter XIV, comprising Sections 123 to 131A in the provided structure, deals with crossed cheques.