CSEET · Business Laws and Management · Elements of Law relating to Negotiable Instruments
The Negotiable Instruments Act, 1881 came into force on:
The Negotiable Instruments Act, 1881 came into force on 1st March, 1882. Although it carries the year 1881 in its name, the Act itself states that its commencement is the first day of March, 1882, so that is the date of operation.
- A1st March, 1881
- B1st March, 1882Correct
- C1st April, 1882
- D1st January, 1881
Explanation
The short-title section provides that the Act comes into force on the first day of March, 1882. The year 1881 is only part of the Act's name and is not the commencement date.
Did you get it right without looking?
One question tells you little. A timed set on Elements of Law relating to Negotiable Instruments shows your real accuracy, how long you take and where you lose marks.
More Elements of Law relating to Negotiable Instruments questions
- Consider the statements about payment time of instruments: (1) A promissory note in which no time for payment is specified is payable on dem…
- Anil signs a cheque payable to "Bharat Traders" without adding words that prohibit transfer or show that it is not transferable. How is the …
- A hundi written in an oriental language is governed by a local usage. The body of the instrument contains words showing that the legal relat…
- Meera drew a cheque on a bank in Pune for a debt due to Kavita. Meera had enough funds, but Kavita did not present the cheque within a reaso…
- Ramesh Traders issued a cheque for Rs. 4,00,000 to Suresh Enterprises for a legally enforceable debt. The bank returned it unpaid for insuff…
- Under Section 84, when a cheque is not presented within a reasonable time and the drawer, who had funds, suffers actual damage through the d…