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Where one person signs and delivers to another a paper stamped in accordance with the law relating to…

A signed, duly stamped paper delivered wholly blank or with an incomplete negotiable instrument, giving the holder prima facie authority to complete it up to the amount…

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Where one person signs and delivers to another a paper stamped in accordance with the law relating to negotiable instruments then in force in India, and either wholly blank or having written thereon an incomplete negotiable instrument, he thereby gives prima facie authority to the holder thereof to make or complete, as the case may be, upon it a negotiable instrument, for any amount specified therein and not exceeding the amount covered by the stamp. What is this called under the N.I. Act?

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Correct answer C

A signed, duly stamped paper delivered wholly blank or with an incomplete negotiable instrument, giving the holder prima facie authority to complete it up to the amount covered by the stamp, is an "Inchoate stamped instrument" under s.20 NI Act.

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