BUSINESS LAW - II (MCQS)

T.Y. B.COM

SEMESTER - 6

BUSINESS LAW - II

MCQS = JAN - 2013

 

(1) Which of the following are negotiable instrument by statute:

(a) A promissory note

(b) A cheque

(c) A bill of exchange

(d) All of these

(2) "an instrument in writing (not being a bank note or currency note) containing an unconditional under taking, signed by the maker, to pay a certain sum of money only to the bearer of the instrument" is called as:

(a) Bill of exchange 

(b) Promissory note

(c) cheque

(d) Open cheque

(3) Drawee when accept the bill, is known as:

(a) Drawee in case of need

(b) Drawer

(c) Acceptor

(d) Payee

(4) The liability of drawer in case of bill of exchange is:

(a) Secondary

(b) Absolute

(c) Not at all

(d) Unconditional

(5) Which of the following negotiable instrument's require stamping?

(a) Promissory note

(b) Bill of exchange

(c) cheque

(d) Both (a) & (b)

(6) How many grace periods are allowed in case of cheque?

(a) 3 days

(b) 3 months

(c) 5 months

(d) No days of grace at all

(7) Which of the following negotiable may be crossed?

(a) cheque

(b) Bill of exchange

(c) Promissory note

(d) Both (b) & (c)

(8) The negotiable instrument which is payable by order can be transferred:

(a) By mere delivery

(b) By endorsement and delivery

(c) Cannot be transferable

(d) None of these

(9) Which of the following statement's is /are true?

(a) All promissory notes are bills of exchange but all bills of exchange are not promissory notes 

(b) All promissory notes are cheques but all cheques are not promissory notes

(c) All cheques are bills of exchange but all bills of exchange are not cheques

(d) All cheques are promissory notes but all promissory notes are not cheques

(10) A bill of exchange is drawn upon

(a) Specified banker

(b) Specified person

(c) Specified person or specified banker

(d) None of these

(11) In case of dishonored of cheque:

(a) No Protest is required

(b) Protest is required

(c) Protest is required

(d) None of these

(12) In which of the following crossing, the transferee of such a crossed cheque cannot get better title than that of the transferor.

(a) Not Negotiable crossing

(b) Negotiable crossing

(c) Both (a) & (b)

(d) None of these

(13) Account payee crossing is also known as

(a) Special crossing

(b) Not negotiable crossing

(c) General crossing 

(d) Restrictive crossing

(14) In which of the following name of specified banker is required?

(a) General crossing

(b) Restrictive crossing

(c) Special crossing

(d) Account payee crossing

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