1
A stale cheque is one presented after:
1 attempt
Medium
2
'Full endorsement' or 'special endorsement' specifies:
Medium
3
'Partial endorsement' (for part of the amount) is:
Medium
4
Dishonour of a cheque due to insufficient funds is governed by:
Medium
5
Payment in due course discharges:
Medium
6
Which of these is a material alteration?
Medium
7
A material alteration of an instrument without consent of all parties makes it:
Medium
8
Presentment for acceptance must be made:
Medium
9
Notice of dishonour need NOT be given to:
Medium
10
Who may endorse a negotiable instrument?
Medium
— Sponsored —
11
Who is the 'drawer' in a bill of exchange?
1 attempt
Medium
12
A 'cheque' is defined under:
1 attempt
Medium
13
'Acceptance for honour' under Section 108 means:
Medium
14
Payment in due course means payment made:
1 attempt
Medium
15
A joint promissory note made by two or more makers makes them liable:
1 attempt
Medium
16
Section 122 provides that no evidence shall be given in court to:
Medium
17
An agent signing a negotiable instrument on behalf of principal is personally liable if:
Medium
18
Days of grace are allowed on:
1 attempt
Medium
19
The presumption of consideration under Section 118 is:
Medium
20
Government promissory notes are:
Medium
— Sponsored —
21
Section 138 applies to cheques issued for:
Medium
23
If the due date of an instrument falls on a public holiday, it is payable:
Medium
24
Offence under Section 138 (cheque dishonour) is:
Medium
25
A bill of exchange contains:
1 attempt
Medium
26
'Negotiation' of an instrument means:
1 attempt
Medium
27
Can a promissory note be made payable to bearer on demand?
1 attempt
Medium
28
A post-dated cheque is:
1 attempt
Medium
29
A negotiable instrument that is overdue is called:
Medium
30
Who is the 'maker' of a promissory note?
1 attempt
Medium
— Sponsored —
31
The concept of 'holder in due course' provides protection against:
Medium
32
The sum payable in a promissory note must be:
1 attempt
Medium
33
'Restrictive endorsement' means:
Medium
34
'Conditional endorsement' is one that:
Medium
35
A 'promissory note' is defined under which section of the NI Act 1881?
1 attempt
Medium
36
Presentment for payment is excused when:
Medium
37
Section 138 (cheque dishonour) was added to the NI Act by:
Medium
38
A lost instrument under Section 45A may be replaced by:
Medium
39
An inchoate (incomplete) instrument under Section 20 gives the holder authority to:
Medium
40
'Noting' of a dishonoured instrument refers to:
Medium
— Sponsored —
41
Under Section 118, the date on a negotiable instrument is presumed to be:
Medium
42
A promissory note must be in:
1 attempt
Medium
43
A holder may refuse a qualified acceptance and treat the bill as:
1 attempt
Medium
44
'Payment for honour' under Section 113 means:
Medium
45
Notice of dishonour must be given within a reasonable time. For parties in the same place, this means:
Medium
46
Ambiguous instruments (could be either PN or BOE) may be treated as:
1 attempt
Medium
47
An 'at sight' instrument is payable:
Medium
48
An instrument endorsed in blank becomes payable to:
Medium
49
The right of a holder in due course to sue is:
Medium
50
A 'bill of exchange' is defined under:
1 attempt
Medium
— Sponsored —
51
A demand instrument must be presented for payment:
Medium
52
Section 89 protects the paying banker when payment is made:
Medium
53
Endorsement of a negotiable instrument means signing:
Medium
54
The limitation period to file a suit on a promissory note is:
Medium
55
Order instruments are negotiated by:
1 attempt
Medium
56
Which of the following is NOT a negotiable instrument under the Act?
1 attempt
Medium
57
Complaint under Section 138 must be filed within:
Medium
58
What must the holder do immediately on dishonour?
Medium
59
Protest is compulsory for:
Medium
60
Who is the 'drawee' in a bill of exchange?
1 attempt
Medium
— Sponsored —
61
Acceptance of a bill of exchange is regulated by:
1 attempt
Medium
62
How many days of grace are allowed on a bill of exchange?
1 attempt
Medium
63
Which instrument does NOT require acceptance?
Medium
64
Release of a prior party by the holder discharges:
Medium
65
For what purpose must a bill of exchange be presented?
Medium
66
The NI Act 1881 was enacted by:
Medium
67
'Protest' of a bill means:
Medium
68
Bearer instruments are negotiated by:
1 attempt
Medium
69
A 'special crossing' on a cheque means:
1 attempt
Medium
70
An endorser's liability is:
Medium
— Sponsored —
71
Presumptions under Section 118 include that every negotiable instrument was made:
Medium
72
A minor's liability on a negotiable instrument is:
Medium
73
'Sans recours' endorsement means:
Medium
74
A collecting banker is protected under Section 131 if he collects payment:
Medium
75
A holder in due course obtains the instrument:
1 attempt
Medium
76
A cheque marked 'Account Payee' can be paid:
Medium
77
An inland bill of exchange not accepted within a reasonable time:
1 attempt
Medium
78
When a cheque is dishonoured, the bank returns it with a 'return memo' stating:
Medium
79
A promissory note must be signed by the:
1 attempt
Medium
80
'Payment in due course' is defined under:
1 attempt
Medium
— Sponsored —
81
The words 'Not Negotiable' on a crossed cheque mean:
1 attempt
Medium
82
Can a special crossing be converted to a general crossing?
Medium
83
A 'bank draft' is similar to a:
Medium
84
Section 1 of the NI Act states that it applies to the whole of Pakistan except:
Medium
85
After receipt of notice, the drawer must make payment within:
Medium
86
A bill payable 'after sight' starts running from:
1 attempt
Medium
87
A cheque is a bill of exchange drawn on a:
1 attempt
Medium
88
A notarial certificate of protest is evidence of:
Medium
89
Under Section 31, the drawee of a cheque must pay if:
Medium
90
'Blank endorsement' means:
Medium
— Sponsored —
91
'Holder in due course' is defined under:
1 attempt
Medium
92
The Negotiable Instruments Act was enacted in the year:
1 attempt
Medium
93
A promissory note is complete when it is:
Medium
94
The burden of proving absence of consideration lies on:
Medium
95
'Drawee in case of need' means:
1 attempt
Medium
96
Under Section 25, when an instrument is payable on a Sunday, it is payable on:
Medium
97
'Acceptance' of a bill means:
1 attempt
Medium
98
A blank endorsement converts an order instrument into:
Medium
99
A negotiable instrument is discharged when:
Medium