Discussion
Which of the following is not a negotiable instrument :-
Answer: B
The instrument that is not negotiable is the Fixed Deposit Receipt.
Section 13 of the Negotiable Instruments Act, 1881 names three negotiable instruments: promissory notes, bills of exchange and cheques, payable to order or bearer. They can be transferred by delivery or endorsement so that the transferee gets a good title.
A fixed deposit receipt is only an acknowledgement by the bank of money deposited for a term. It is not an unconditional promise or order to pay a holder and is not transferable by endorsement, so it is not a negotiable instrument.
No comment is present. Be the first to comment.
Loading…
Post your comment
Please log in or register to post a comment.
Examination Categories
- SSC Exams
- Banking Exams
- Teaching Exams
- Civil Services Exams
- Railways Exams
- Engineering Recruitment Exams
- Defence Exams
- State Government Exams
- Police Exams
- Insurance Exams
- Nursing Exams
- Other Government Exams
- NRA CET
- PG Entrance Exams
- Campus Placement
- MBA Entrance Exams
- CUET and UG Entrance
- Judiciary Exams
- Regulatory Body Exams
- Software Development