BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a minor
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married woman
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an illiterate person
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all of these
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Detailed explanation-1: -It can be endorsed by Drawer/ Maker, Holder or Payee is called endorsement under Negotiable Instruments Act, 1881. Person making endorsement is called ‘Endorser’ and to whom endorsement is made is called ‘Endorsee’.
Detailed explanation-2: -Blank or General Endorsement. Full Endorsement or Special Endorsement. Conditional Endorsement. Restrictive Endorsement.
Detailed explanation-3: -A stranger cannot endorse it. It may be made either by the endorser merely signing his name on the instrument or by any words showing an intention to endorse or transfer the instrument to a specified person. It must be signed by the endorser.
Detailed explanation-4: -(1) A “negotiable instrument” means a promissory note, bill of exchange or cheque payable either to order or to bearer.