Question # 1

Endorsment of a cheque is always:

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Written

Oral

Written and registered

All of the above

Endorsee of cheque is a person

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Who receives the amount of cheque

In whose favour the rights of cheque are transferred

On whom the cheque is drawn

Who draws a cheque

The name of the person is written on cheque as:

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Drawer

Drawee

Payee

None of these

Who is called a drawee of cheque

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Payee

Bank

Customer

Endorsee

Official empowered by theGovt. attest the negotiable instruments by his seal.

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Gazette officer

Notary public

Public attorney

None ofthese

Collateral parties in bill of exchange are.

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Acceptor

Endorser

Endorsee

All these

Payment of sight bill is made on.

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Demad

Fixed period

Expiry

Presentation

If drawer of cheque is a payee himself then what word is written after the word pay:

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Order

Bearer

Self

None of the above

The bill of exchange who's tenor is less than three month is.

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Long bill of exchange

Foreign bill of exchange

Short bill of exchange

Sight bill of exchange

On every cheque bank gets

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Profit

Commission

Tax

Duty

In case of non-negotiable instruments, the rights can:

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Be tranferred

Not be transferred

Be conditionally transferred

All of the above

The types of local or home trade are.

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Regail trade

Wholescale trade

Interport

Both a and b

Safest cheque for making payment is:

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Crossed cheque

Order cheque

Bearer cheque

All of the above

Inland sight bill of exchange is usually used in.

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Domestic trade

Inter port trade

Foreign trade

None of these

Bill of exchange doesn't involved trade dealing.

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Trade bill

Accommodation bill

Both a and b

None of these

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