Under the Negotiable Instruments Act, 1881, the acceptor of a bill of exchange before maturity must:
Section 32 ordinarily binds the acceptor before maturity to pay at maturity according to "the apparent tenor" of his acceptance. Where acceptance is qualified, those terms…
Choose your answer
Under the Negotiable Instruments Act, 1881, the acceptor of a bill of exchange before maturity must:
Answer and explanation
Correct answer D
Section 32 ordinarily binds the acceptor before maturity to pay at maturity according to "the apparent tenor" of his acceptance. Where acceptance is qualified, those terms govern rather than inconsistent terms of the bill as drawn; prior parties' discharge on qualified acceptance is separately governed by section 86.
Practice for these exams
-
All India Bar Examination (AIBE)
Subject revision
See pack details on LawMint.net -
UGC NET Law
Subject revision
See pack details on LawMint.net -
CUET PG Law (LL.M.)
Subject revision