MCQ on Negotiable Instrument Act 1881 with Answers
1) When did the Negotiable Instruments Act come into force?
A) 1 April 1882
B) 1 March 1936
C) 01 May 1989
D) 01 March 1882
Answer –D) 01 March 1882
2) Which section of the Negotiable Instruments Act,1881 deals with Partial failure of consideration not consisting of money?
A. Section 21 of the Negotiable Instruments Act,1881
B. Section 45 of the Negotiable Instruments Act,1881
C. Section 4 of the Negotiable Instruments Act,1881
D. Section 20 of the Negotiable Instruments Act,1881
Answer B. Section 45 of the Negotiable Instruments Act,1881
- Which section of the Negotiable Instruments Act,1881 deals with Promissory note__ ?
A. Section 4 of the Negotiable Instruments Act,1881
B. Section 24 of the Negotiable Instruments Act,1881
C. Section 3 of the Negotiable Instruments Act,1881
D. Section 6 of the Negotiable Instruments Act,1881
Answer – A. Section 4 of the Negotiable Instruments Act,1881
- Section 35 of the Negotiable Instruments Act,1881 deals with_______?
A. Liability of indorser
B. Suretyship
C.Liability of the maker of note and acceptor of a bill
D. Negotiation by delivery
Ans-A. Liability of indorser
- . Liability of legal representative signing is provided in section____ of the Negotiable Instruments Act,1881
A. Section 41 of the Negotiable Instruments Act,1881
B. Section 11 of the Negotiable Instruments Act,1881
C. Section 29 of the Negotiable Instruments Act,1881
D. Section 21 of the Negotiable Instruments Act,1881
Ans- C. Section 29 of the Negotiable Instruments Act,1881
- Section 25 of the Negotiable Instruments Act,1881 provides _?
A. . When the day of maturity is a holiday
B. Liability of drawer
C. Agency
D. Liability of drawee of the cheque
Ans- A. . When the day of maturity is a holiday
- Which section of the Negotiable Instruments Act,1881 deals with Rules as to compensation?
A. Section 21 of the Negotiable Instruments Act,1881
B. Section 31 of the Negotiable Instruments Act,1881
C. Section 117 of the Negotiable Instruments Act,1881
D. Section 29 of the Negotiable Instruments Act,1881
Answer – C. Section 117 of the Negotiable Instruments Act,1881
- Section 18 of the Negotiable Instruments Act,1881 deals_______?
A. Where the amount is stated differently in figures and words
B. Presentment for acceptance.
C. Dishonour by non-acceptance
D. Payment for honour
Ans- A. Where the amount is stated differently in figures and words
9) Which section of the Negotiable Instruments Act,1881 deals with Presumption in favour of holder. ?
A. Section 122 of the Negotiable Instruments Act,1881
B. Section 139 of the Negotiable Instruments Act,1881
C. Section 143 of the Negotiable Instruments Act,1881
D. Section 145 of the Negotiable Instruments Act,1881
Answer B. Section 139 of the Negotiable Instruments Act,1881
10) Section 123 of the Negotiable Instruments Act,1881 deals with_______?
A. Cheque crossed specially
B.. Set of bills.
C. Cheque crossed generally
D. Cognizance of offences
Answer- C. Cheque crossed generally
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