Which one of the following is not meant by the term 'Company' for the purpose of the Section 141 of the Negotiable Instruments Act, 1881?

In which of the following cases the Supreme Court held that the provisions of Section 141 of the Negotiable Instruments Act, 1881 do not contain a condition that the prosecution of a company is sine qua non for prosecution of other persons. The liability of the Directors/Officers etc. is vicarious and will flow from the liability of the company/firm.

A

Narsing Das Tapadia v. Govardhan Das Pattani

B

Saketh India Ltd. v. India Securities Ltd.

C

K. G. Sharma v. Pratap Autowheels

D

Mohd. Isaq Gulsani v. Rajamouli

For the purpose of Section 141 of The Negotiable Instruments Act, 1881 'company' means:

A

Anybody corporate

B

A firm

C

Other association of individuals

D

All of the above

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

Which of the Section of Negotiable Instruments Act, 1881 provides that "where a person is nominated as a Director of a company by virtue of his holding any office or employment in the Central Government or the State Government, as the case may be, he shall not be held liable for an-offence under Section 138 of the Act, committed by a company?"

A

Proviso (one) to Section 141(1)

B

Proviso (two) to Section 141(1)

C

Sub-section 2 of Section 141

D

None of the above

A' signs instruments in the following terms, which instruments are promissory note under Section 4 of the Negotiable Instruments Act, 1881?

A

I promise to pay 'B' or order Rs. 500/- to be paid on demand

B

I promise to pay 'B' Rs. 5000/- and all other some which shall be due to him

C

I promise to pay 'B' Rs. 5000/- first deducting there out any money which he may own me

D

I promise to pay 'B' Rs. 5000/- ten days after my marriage with 'C'

Who, of the followings, are not liable for prosecution under Section 141 of the Negotiable Instruments Act, 1881?

A

Any person nominated as director by virtue of holding any office or employment in Central Government

B

Any person nominated as director by virtue of holding any office or employment in State Government

C

Any person nominated as director by virtue of holding any office or employment a central or state owned or controlled Financial Corporation

D

All of the above

The term 'Negotiable instrument' is defined in the Negotiable Instruments Act, 1881, under section

A

12

B

13

C

13A

D

13B

Consider the following statements in connection with deflection-type and null-type instruments: 1. Null-type instruments are more accurate than the deflection-type ones. 2. Null-type of instrument can be highly sensitive compared to a deflection-type instrument. 3. Under dynamic conditions, null-type instruments are less preferred to deflection-type instruments. 4. Response is faster in null-type instruments as compared to deflection-type instruments. Which of the above statements are correct?

A

1, 2 and 3

B

1, 2 and 4

C

1, 3 and 4

D

2, 3 and 4

According to Section 13 of the Negotiable Instruments Act, 1881, which is not a "Negotiable Instrument"?

A

Instrument of Debt

B

Promissory Note

C

Bill of exchange

D

Cheque

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

Which one of the following is not meant by the term 'Company' for the purpose of the Section 141 of the Negotiable Instruments Act, 1881?

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