Negotiable Instruments (Amendment) Bill, 2017 inserted a provision allowing a court trying an offence related to cheque bouncing, to direct the drawer (person who writes the cheque) to pay interim compensation to the complainant. The interim compensation will not exceed which of the following percentage of the cheque amount?

The Negotiable Instruments Act provides for payment of interim compensation by the drawer of the cheque to the complainant. Such interim compensation should not exceed . . . . . . . . of the amount of the cheque.

A

10%

B

20%

C

25%

D

15%

Which of the following is/are true about Bill of Exchange?
1. A bill of exchange requires in its inception two parties.
2. A bill of exchange or 'draft' is a written order by the drawer to the drawee to pay money to the payee.
3. Bills of exchange are used primarily in international trade, and are written orders by one person to his bank to pay the bearer a specific sum on a specific date.
4. Definition of 'Bill of Exchange' is mentioned in Section 6 of the Negotiable Instrument Act.

A

1 and 4

B

1, 2 and 4

C

2 and 3

D

3 and 4

Which of the following is/are false about Dishonour of Cheque?
1. Section 138 defines Dishonour of cheque in terms of issues such as insufficiency of funds in the account.
2. Such cheque has been presented to the bank within a period of twelve months from the date on which it is drawn or within the period of its validity, whichever is earlier.
3. Imprisonment for such offence may be extended for period of five year.
4. Section 138 apply unless - the drawer of such cheque fails to make the payment of the said amount of money to the payee or, as the case may be, to the holder in due course of the cheque, within fifteen days of the receipt of the said notice.

A

1 and 4

B

2 and 3

C

2, 3 and 4

D

Only 4

Statement I A cheque is an unconditional order to a specified banker to pay the sum mentioned in the cheque.
Statement II A cheque can be drawn only by a person who has his account with bank while a bill can be drawn by any person.
Statement III A cheque may be crossed but a bill of exchange can not be crossed.
Which of the following statement(s) is/are true?

A

Only Statement I is true

B

Only Statement III is true

C

Both statements II and III are true

D

All statements are true

Consider the following statements for deflection and null type instruments: 1. Deflection type of instruments are more accurate than null type of instruments. 2. Deflection type of instruments can be highly sensitive as compared with the null type of instruments. 3. Null type of instruments are more suitable for measurements under dynamic conditions than deflection type of instruments. Which of the above statements are not correct?

A

1 and 2 only

B

1 and 3 only

C

1, 2 and 3

D

2 and 3 only

Consider the following statements related to constitution amendments: (i) Article 368 mentions two methods of constitution-amendment. (ii) Constitution-amendment bill can be introduced only in Lok Sabha. (iii) In the event of a dispute between the two Houses of Parliament on the Constitution-Amendment Bill, a joint sitting of the two Houses may be called. (iv) The President cannot exercise a veto power on the Constitution-Amendment Bill. Which of the above statements is/are correct?

A

only (i) and (iii)

B

only (I) and (iv)

C

only (ii) and (iv)

D

only (ii), (iii) and (iv)

Which of the following statements are true in context of a cheque?
1. Cheque is a special kind of Bill of Exchange.
2. Cheque is always payable on demand.
3. Validity of Cheque is 6 months.
4. Cheque doesn't require any stamping.

A

1, 2 and 3

B

1, 2 and 4

C

1, 2, 3 and 4

D

2, 3 and 4

Study the following information carefully to answer the questions given below. AGS organization is conducting an interview. Following are the criteria for a certain post. All these cases are given as of 1.05.2017. The candidate must: A. Be an engineering graduate with at least 70% marks. B. Be not less than 21 years and not more than 30 years of age as of 1.05.2017. C. Have passed the selection test with at least 60% marks. D. Be willing to pay a deposit of 60,000/-, to be refunded on completion of training. However, if the candidate fulfills the above-mentioned criteria except: I. At (A) above, but has appeared for the last semester examination, and has obtained an aggregate of 75% marks in first 7 semesters, his/her case may be referred to the V.P of the company. II. At (D) above, but is willing to pay an amount of at least Rs. 30,000/- and has obtained at least 80% marks at engineering degree, his/her case may be referred to the general manager of the company. Ranjith has appeared for the last semester of the engineering degree exam and expects to score as least 76% marks. His aggregate score up to the first 7 semesters is 82%. He has just completed 21 years of age as of 1.05.2017. He has scored 63% in the selection test and is ready to pay an amount of 60,000/- as a deposit.

A

The candidate is not to be selected.

B

The case is to be referred to the V.P.

C

The case is to be referred to the general manager.

D

The candidate is to be selected.

Which of the following statements are not true about the process of Constitutional Amendment in India?
1. The Parliament can amend the Constitution with a special majority.
2. State Assemblies can propose amendment in the Constitution.
3. A Bill for Constitutional Amendment can be introduced only in the Lower House of the Parliament.
4. Deadlock between the two Houses of Parliament over a Bill for Constitutional Amendment can be removed by a joint session of the Parliament.
5. The President of India enjoys the veto power over Constitutional Amendment Bills passed by the Parliament.
Select the correct answer:

A

1, 3 and 4

B

2, 3, 4 and 5

C

1, 4 and 5

D

1, 2, 3 and 4

Who as the drawer of a cheque can be prosecuted for non-payment of the cheque due to insufficient funds under section 138 of the Negotiable Instruments Act, 1881:

A

Only a human being

B

Only a body corporate

C

Only a firm

D

All of these

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