Expected Questions on Negotiable Instruments Act

Hello and welcome to exampundit. Today we are sharing the most important Expected Questions on Negotiable Instruments Act. These are extremely important for Bank Exam’s Banking Awareness part. We have given Section, Definition related questions on Negotiable Instruments Act.

Expected Questions on Negotiable Instruments Act

  1. A promissory note, bill of exchange or cheque payable either to order or to bearer is called – Negotiable Instrument
  2. How many total sections are there in the Negotiable Instruments Act? – 147
  3. Which section of Negotiable Instruments Act deals with Promissory Note? – Section 4
  4. In which section bill of exchange is dealt with in Negotiable Instruments Act? – Section 5
  5. What does Section 6 deals with in Negotiable Instruments Act? – Cheque
  6. Which section in Negotiable Instruments Act deals with Negotiable Instruments? – Section 13
  7. Drawee is defined in which section of Negotiable Instruments Act? – Section 7
  8. Which section of Negotiable Instruments Act deals with Dishonour by non-payment? – Section 92
  9. Which section of Negotiable Instruments Act deals with Cheque crossed generally? – Section 123
  10. Which section of Negotiable Instruments Act deals with Presumptions as to Negotiable Instruments? – Section 118
  11. Which section of Negotiable Instruments Act deals with Dishonouring of Cheque? – Section 138
  12. What type of negotiable instrument is a currency note? – Money is Not a Negotiable Instrument
  13. An order in writing directing a person to pay a sum of money to a specified person is called _____. – Bill of Exchange
  14. A bill of exchange drawn on a specified banker, and not expressed to be payable otherwise than on demand is called ____. – Cheque
  15. How many type of cheques are there as per the Negotiable Instruments Act? – 4 (Open cheque, Crossed cheque, Bearer cheque, Order cheque)

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