Site navigation

Under the Negotiable Instruments Act, 1881, the holder of a promissory note, bill of exchange or cheque…

Section 8 requires entitlement in one's own name both to possession and to "receive or recover" the sum from the parties liable. Mere physical custody does not suffice; a…

Choose your answer

Under the Negotiable Instruments Act, 1881, the holder of a promissory note, bill of exchange or cheque is a person who:

Select one answer
Answer and explanation

Correct answer B

Section 8 requires entitlement in one's own name both to possession and to "receive or recover" the sum from the parties liable. Mere physical custody does not suffice; a payee who transfers away the whole interest without retaining title ordinarily ceases to be the holder.

Practice for these exams

Related exam syllabi

Related questions in this topic