Under Section 54 of the Negotiable Instruments Act, 1881, the bearer of an instrument indorsed in blank…
Under s.54 NI Act, an instrument indorsed in blank is payable to bearer, and whoever is in possession of it as bearer is its holder, not the drawee, drawer, or acceptor.
Choose your answer
Under Section 54 of the Negotiable Instruments Act, 1881, the bearer of an instrument indorsed in blank becomes:
Answer and explanation
Correct answer A
Under s.54 NI Act, an instrument indorsed in blank is payable to bearer, and whoever is in possession of it as bearer is its holder, not the drawee, drawer, or acceptor.
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