What presentment rule is stated in proviso (a) to section 138 of the Negotiable Instruments Act, 1881?
Proviso (a) uses the earlier of six months from drawing and the end of the cheque’s validity. RBI directions generally limit bank payment of covered cheques to three months,…
Choose your answer
What presentment rule is stated in proviso (a) to section 138 of the Negotiable Instruments Act, 1881?
Answer and explanation
Correct answer C
Proviso (a) uses the earlier of six months from drawing and the end of the cheque’s validity. RBI directions generally limit bank payment of covered cheques to three months, which is relevant to the validity limb of the statutory formula.
Option feedback
Option A
Three months reflects the RBI banking rule. The statute expresses presentment by a formula tied to actual validity and a six-month outer limit.
Option B
One month from drawing is not the period in proviso (a).
Option C
This reproduces both limbs of the statutory formula.
Option D
The fifteen-day period concerns payment after receipt of demand notice, not presentment from drawing.
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