Bissoy.com
Doctors Medicines MCQs Q&A

A draws a bill on B for 1 500 payable to the order of A. B accepts the bill, but subsequently dishonours it by non-payment. Asues B on the bill. B proves that it was accepted for value as to 1 400, and as an accommodation to the plaintiff as to the residue. Thus, as per the provisions of the Negotiable Instruments Act, 1881, A can only recover the following amount:

A draws a bill on B for 1 500 payable to the order of A. B accepts the bill, but subsequently dishonours it by non-payment. Asues B on the bill. B proves that it was accepted for value as to 1 400, and as an accommodation to the plaintiff as to the residue. Thus, as per the provisions of the Negotiable Instruments Act, 1881, A can only recover the following amount: Correct Answer <sup>1</sup> 400

Related Questions

A draws a bill on B. B accepts the bill without any consideration. The bill is transferred to C without consideration. C transferred it to D for value. Decide as per the provisions of the Negotiable Instruments Act, 1881 -
A theft had been committed in the defendant's house. He informed the police that he suspected the plaintiff for the same. Therefore the plaintiff was arrested by the police. A complaint was filed by the defendant but the plaintiff was subsequently discharged by the magistrate as the final report showed that there was no evidence connecting the plaintiff with the theft. The plaintiff filed a suit for damages on the ground of malicious prosecution.
In the above case, which one of the following decisions is correct?
Given below are two statements, one labeled as Assertion (A) and the other labeled as Reason (R). Read the statements and choose the correct answer using the given below.
Assertion (A): A 'negotiable instrument' means a promissory note, bill of exchange or cheque payable either to order or to bearer.
Reason (R): Because it is said so under Section 13 of the Negotiable Instruments Act, 1881.
M drew a cheque amounting to Rs. 2 lakh payable to N and subsequently delivered to him. After receipt of cheque N endorsed the same to C but kept it in his safe locker. After sometime, N died, and P found the cheque in N's safe locker. State the nature of the Instrument as amounting to indorsement under the Negotiable Instruments Act, 1881.
The date of maturity of a bill payable hundred days after sight and which is presented for sight on 4th May, 2017, is (as per the provisions of the Negotiable Instruments Act, 1881):
The plaintiff instructed his Banker to deposit excise duty on his behalf in the Govt. treasury and debit the current account of plaintiff. The Bank deposited the said sum in the treasury. Later the plaintiff came to know, that the said amount was embezzled by the Treasurer and the Accountant of the treasury and the amount was not credited in the name of the plaintiff. If the plaintiff brings an action against the State for damages then the State is:
The following table shows the income (in rupees) for a particular month, together with their source, in respect of 5 employees (A, B, C, D and E).   A B C D E Salary 52,000 48,500 42,000 31,000 25,000 Overtime 0 0 1,500 2,500 3,200 Arrears 5.500 4,500 4,000 3,000 1,500 Bonus 3,500 3,000 2,500 2,000 2,000 Miscellaneous income 5,000 3,000 1,500 1,500 0 Total 66,000 59,000 40,000 40,000 31,700   For employee D, the income from overtime is what percentage of his total income?
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?
In a suit filed by the plaintiff, the defendant in his written statement has taken the objection of non-impleadment of necessary party. Despite such objection the plaintiff continued the suit and the suit finally was decreed. At the first appellate stage, the plaintiff withdraws the suit with liberty to file a fresh one on the same cause of action and subsequently filed a fresh suit. The period spent by the plaintiff in the earlier suit, under section 14 of Limitation Act is
A draws a cheque in favour of M, a minor. M endorses the same in favour of X. The cheque is dishonoured by the bank on grounds of inadequate funds. As per the provisions of Negotiable Instruments Act, 1881: