Under the Negotiable Instruments Act, 1881, if the party charged is an indorser:
Under the Explanation to s.80 NI Act, where the party charged is the indorser of an instrument dishonoured by non-payment, he is liable for interest only from the time he…
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Under the Negotiable Instruments Act, 1881, if the party charged is an indorser:
Answer and explanation
Correct answer A
Under the Explanation to s.80 NI Act, where the party charged is the indorser of an instrument dishonoured by non-payment, he is liable for interest only from the time he receives notice of the dishonour, not from the instrument's date, endorsement, or negotiation.
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