Introduction and Definition

Negotiable instrument Act

Title

45:30

8 of 24 completed

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38 of 100 completed

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Indian Economy - Understanding the basics of Indian economic system

Promissory note is defined u/s -------- of the Negotiable Instruments Act, 1881.

- Section 4 of the Negotiable Instruments Act, 1881 defines a 'promissory note'.

- Section 5 deals with the definition of a 'bill of exchange'.

- Section 7 relates to 'drawer', 'drawee' and 'payee'.

- Section 8 defines a 'holder' of a negotiable instrument.

Option:1, 4 is the correct answer.