BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Money
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Transferable
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Can be passed
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Bargain
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Detailed explanation-1: -(1) A “negotiable instrument” means a promissory note, bill of exchange or cheque payable either to order or to bearer.
Detailed explanation-2: -Solution. The transferee of a Negotiable Instrument is the one on whose name it is transferred.
Detailed explanation-3: -Negotiable can be used to describe the price of a good or contract terms that are not firmly established. Negotiable instruments refer to securities whose ownership is easily transferable from one party to another.
Detailed explanation-4: -According to section 13 of the Negotiable Instruments Act, 1881, a negotiable instrument means “promissory note, bill of exchange, or cheque, payable either to order or to bearer”
Detailed explanation-5: -Section 13 in The Negotiable Instruments Act, 1881.