Negotiable Instrument Act one of the Act which contains more technical terms, keywords etc yet it is an Act about which each Indian must be aware of. Discussed is the question bank on Negotiable Instruments Act. Moreover we have added both short questions and long questions as well for better utility. However this Important Question Bank on Negotiable Instruments Act will be helpful for students and those who are preparing for competitive exams.
Important Questions on Negotiable Instrument Act
Short questions
- List the instruments covered under negotiable instruments Act in India?
- How would you interpreted the word “Banker” negotiable instruments Act in India
- Define promissory Note
- Give example of two statements which can be considered as Promissory Note
- Explain Bill of Exchange in your own words
- What is a cheque as per negotiable instruments Act in India
- What do you mean by ” A cheque in electronic form”
- How will you explain the term “a truncated cheque”
Short Question Bank on NI Act
9. Who is called as a bearer of an Instrument
10. List down the types of crossing
11. What do you mean by crossing of cheque? Why it is preferable?
12. When a cheque gets compulsory Dishonor
13.Discuss the parties of Instruments
14. Who is a holder in due course.
15. What do you mean by Noting
16. What is called as protesting
Long Questions on Negotiable Instruments Act:
- Write in detail about the Features of a Negotiable Instruments
- What are the essentials of Promissory Note
- Discuss in detail the essentials of Bill of exchange
- What are the circumstances in which a gets dishonored by bank
- How will you Differentiate between Bill of exchange and Promissory Note
- Explain in detail about Maturity and Days of Grace days of various Instruments
- What are the differences between bill of exchange and cheque
- Explain all the types of crossing of cheque with specimen for each type
- Discuss the privileges available to a holder in due course.
- what is the major reason behind Noting and Protesting and when to do it
Hope these questions on Negotiable Instruments Act would have been helpful for you. You can find MCQ’s related to the topic here