Under section 16 of the Negotiable Instrument Act, 'indorsement in blank' of an instrument means

Can the holder of a negotiable instrument indorsed in blank convert the indorsement into an indorsement in full?

A

No, such a conversion is not possible under the Negotiable Instruments Act, 1881 (Section 49)

B

Yes, the holder can, without signing his own name, and by writing above the indorser's signature a direction to pay to any other person as indorsee, convert the indorsement in blank into an indorsement in full (Section 49)

C

Yes, the holder can by signing his own name and by writing above the indorser's signature a direction to pay to any other person as indorsee, convert the indorsement in blank to an indorsement in full (Section 49)

D

None of the above

As per Section 118 of the Negotiable Instruments Act, presumption in regard to the date of a negotiable instrument is that every negotiable instrument bearing a date was made or drawn:

A

On such date

B

Prior to that date

C

May be on or prior to such date

D

None of the above

A group of 74 students of Class XI went on picnic. The number of students who went on picnic by each section is as follows: Section A = 15 Section B = 24 Section C = 15 Section D = 20 5 students from Section A spent as much as 4 students from Section B. 12 Section B students spent as much as 9 Section C students and 6 Section C students spent as much as 8 Section D student. If every student of a particular section spent the same amount and all the students spent Rs. 23,370 altogether, find the amount spent by each student of Section D?

A

Rs. 307.50

B

Rs. 410

C

Rs. 246.50

D

Rs. 369

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.

A

Yes its an endorsement, as P becomes the holder of the cheque that he found in the N's safe locker

B

No, its not an endorsement, as P does not become the holder of the cheque

C

Yes, its an endorsement, as P was a ultimate custodian of the cheque

D

No, its not an endorsement, as Nendorsed it to Cand not to the P

Under which section of Negotiable Instrument Act, 1882, the 'Dishonour of Negotiable Instrument by Non-Payment' is covered?

A

Section 90

B

Section 91

C

Section 92

D

Section 93

Which of the following are presumptions as to a negotiable instrument under section 118 of the Negotiable Instruments Act? Answer using given below:
(1) Presumption of contractual capacity
(2) Presumption of consideration
(3) Presumption of maturity of instrument
(4) Presumption of date

A

Only (1) and (3)

B

Only (2) and (4)

C

Only (1) and (4)

D

Only (1) and (2)

Under section 16 of the Negotiable Instrument Act, 'endorsement in blank' of an instrument means:

A

Where the endorser does not write anything on the instrument

B

Where the endorser only signs without writing any name on the instrument

C

Where the endorser writes the name of the person who is directed to pay

D

None of the above

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.

A

Both (A) and (R) are correct and (R) is the correct explanation of (A)

B

(A) is false, but (R) is true

C

Both (A) and (R) are false

D

(A) is true, but (R) is false

Section 5 of Negotiable Instrument Act deals with which Negotiable Instrument?

A

Bill of Exchange

B

Promissory Note

C

Partcipatory Notes

D

Cheque

The indorsement of a negotiable instrument followed by delivery

A

Transfers to the indorsee the property in the bill, provided the indorsement must be an indorsement in full

B

Does not transfer the property in the bill to anyone

C

Transfers to the indorsee the property in the bill

D

Transfers to the holder the property in bill

Under section 16 of the Negotiable Instrument Act, 'indorsement in blank' of an instrument means

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