To whom of the following, payment of amount due on a promissory note, bill of exchange or cheque must…
Under Section 78 of the Negotiable Instruments Act, 1881, payment of the amount due on a promissory note, bill of exchange or cheque must be made to the "Holder of the…
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To whom of the following, payment of amount due on a promissory note, bill of exchange or cheque must be made in order to discharge the maker or the acceptor
Answer and explanation
Correct answer A
Under Section 78 of the Negotiable Instruments Act, 1881, payment of the amount due on a promissory note, bill of exchange or cheque must be made to the "Holder of the instrument" in order to discharge the maker or acceptor.
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