Which of the following is not a negotiable instrument as per the Negotiable Instruments Act, 1881?
Section 13 of the Negotiable Instruments Act, 1881 recognises only a "Promissory note", a "Bill of exchange" and a "Cheque" as negotiable instruments. A "Hundi" is an…
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Which of the following is not a negotiable instrument as per the Negotiable Instruments Act, 1881?
Answer and explanation
Correct answer B
Section 13 of the Negotiable Instruments Act, 1881 recognises only a "Promissory note", a "Bill of exchange" and a "Cheque" as negotiable instruments. A "Hundi" is an indigenous instrument governed by local usage and is not among the instruments defined by the Act.
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