Q. A drawee is need to be given a deliberation of
✅ Correct Answer: (B)
48 hrs
Business Laws MCQs and Notes
Q. Presentment of an acceptance is required in case of
✅ Correct Answer: (C)
Every promissory note
Q. A minor cannot be a______________ of the instrument
✅ Correct Answer: (C)
Payee
Q. Presentation is required for
✅ Correct Answer: (D)
Any of the above three purposes
Q. Notice of dishonour must be given
✅ Correct Answer: (D)
To all the parties who are secondarily liable on the instrument or to their duly authorized agent
Q. Crossing of a cheque effects the
✅ Correct Answer: (C)
Both (a) and (b)
Q. If the words "not negotiable" are used with special crossing in a cheque, the cheque is
✅ Correct Answer: (A)
Not transferable
Q. If a cheque is refused by the State Bank of India (SBI) due to inadequacy of funds for the cheque to clear, then it is said to be
✅ Correct Answer: (A)
Bounced cheque
Q. The agent having in customary course of business as such agent authority either to sell goods or to consign goods for the purpose of sale or to buy goods or to raise money on the security of goods is called
✅ Correct Answer: (B)
Mercantile agent