What is the primary liability of the drawer of a bill of exchange or cheque?
Under Section 30 of the Negotiable Instruments Act, 1881, the drawer of a bill of exchange or cheque is bound, in case of dishonour by the drawee or acceptor thereof, to…
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What is the primary liability of the drawer of a bill of exchange or cheque?
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Correct answer A
Under Section 30 of the Negotiable Instruments Act, 1881, the drawer of a bill of exchange or cheque is bound, in case of dishonour by the drawee or acceptor thereof, to compensate the holder, provided due notice of dishonour has been given to, or received by, the drawer.
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UGC NET Commerce