Negotiable Instruments Act 1881
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Questions and Answers

Who must the certain person be, according to the definition of a bill of exchange?

  • To pay a certain sum of money to anyone the holder specifies
  • To pay a certain sum of money only to the bearer of the instrument
  • To pay a certain sum of money only to, or to the order of a certain person (correct)
  • To pay a certain sum of money only to a certain person

    • What is a bill of exchange according to the Negotiable Instruments Act 1881?

  • An instrument in writing containing an unconditional order (correct)
  • An instrument in writing containing a conditional request
  • An instrument in writing containing an unconditional request
  • An instrument in writing containing a conditional order

    • What is the essential requirement regarding the payment in a bill of exchange?

  • The payment must be for a certain sum of money (correct)
  • The payment must be made to a specific bank account
  • The payment must be made in a foreign currency
  • The payment must be for an uncertain sum of money

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