For the purposes of section 141 of Negotiable Instruments Act, 1881, 'Company' does not mean:
The Explanation to section 141 of the Negotiable Instruments Act, 1881 defines "company" as any body corporate, and includes a firm or other association of individuals. A…
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For the purposes of section 141 of Negotiable Instruments Act, 1881, 'Company' does not mean:
Answer and explanation
Correct answer C
The Explanation to section 141 of the Negotiable Instruments Act, 1881 defines "company" as any body corporate, and includes a firm or other association of individuals. A "Group of individuals" is not one of the statutory categories, whereas a body corporate, a firm and an association of individuals all are.
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