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Negotiable instrument Act Judicial Services Exam (JS)

Title

45:30

8 of 24 completed

5 of 15 completed

38 of 100 completed

8 of 20 completed

Indian Economy - Understanding the basics of Indian economic system

Sec. 4 of negotiable instruments Act 1880 deals with

Promissory Note

bill of exchange

Cheque

none of the above

- Promissory Note: A written promise to pay a specific amount either on demand or at a fixed future date.

- Bill of Exchange: An order requiring one party to pay a fixed amount to another party on demand or at a future date.

- Cheque: A written, dated, and signed document instructing a bank to pay a specific sum of money to the bearer.

- None of the above

Correct Answer: Promissory Note