Which of the following is not a negotiable instrument?
An ordinary bond is outside the statutory categories in section 13 of the Negotiable Instruments Act. That provision names promissory notes, bills of exchange and cheques…
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Which of the following is not a negotiable instrument?
Answer and explanation
Correct answer B
An ordinary bond is outside the statutory categories in section 13 of the Negotiable Instruments Act. That provision names promissory notes, bills of exchange and cheques payable to order or bearer. The comparison concerns those statutory categories, rather than special bonds whose terms or custom may confer negotiability.
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