Section 134 of the Negotiable Instruments Act applies to:
Section 134 regulates the liability of the maker, drawer, acceptor and indorser "of a foreign promissory note, bill of exchange or cheque". Inland instruments are governed…
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Section 134 of the Negotiable Instruments Act applies to:
Answer and explanation
Correct answer B
Section 134 regulates the liability of the maker, drawer, acceptor and indorser "of a foreign promissory note, bill of exchange or cheque". Inland instruments are governed by the Act itself, currency notes are not negotiable instruments under it, and hundis are saved for local usage by s.1.
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