Unit 5 

Chapter 2

Kinds of Negotiable Instruments

āύেāĻ—োāϚিāϝ়েāĻŦāϞ āχāύāώ্āϟ্ā§°ুāĻŽেāĻŖ্āϟ⧰ āĻĒ্ā§°āĻ•াā§°

Questions 

āĻĒ্ā§°āĻļ্āύāϏāĻŽূāĻš 

MULTIPLE CHOICE QUESTIONS

āĻāĻ•াāϧিāĻ• āĻŦিāĻ•āϞ্āĻĒāĻĒ্ā§°āĻļ্āύ

1. Promissory note is an :

1. āĻĒ্ā§°āĻŽিāϛ⧰ী āϟোāĻ•া āĻšৈāĻ›ে āĻāϟা :

(a) Unconditional order (b) Unconditional undertaking (c) Both a and b (d) None of the above

(āĻ•) āϚ⧰্āϤāĻšীāύ āφāĻĻেāĻļ (āĻ–) āϚ⧰্āϤāĻšীāύ āĻĒ্ā§°āϤিāĻļ্ā§°ুāϤি

(āĻ—) āĻ• āφ⧰ু āĻ– (āϘ) āĻ“āĻĒā§°ā§° āĻ•োāύোāϟোā§ąেāχ āύāĻšāϝ়

Ans: (b) Unconditional undertaking

āωāϤ্āϤ⧰: (āĻ–) āϚ⧰্āϤāĻšীāύ āĻĒ্ā§°āϤিāĻļ্ā§°ুāϤি


2. A conditional instrument is a :

2. āϚ⧰্āϤāϏাāĻĒেāĻ•্āώ āϏঁāϜুāϞি āĻāϟা āĻšৈāĻ›ে:

(a) Valid instrument (b) Invalid instrument (c) Partially Valid (d) None of the above

(āĻ•) āĻŦৈāϧ āϏঁāϜুāϞি (āĻ–) āĻ…āĻŦৈāϧ āϏঁāϜুāϞি

(āĻ—) āφংāĻļিāĻ•āĻ­াā§ąে āĻŦৈāϧ (āϘ) āĻ“āĻĒā§°ā§° āĻ•োāύোāϟো āύāĻšāϝ়

Ans: (b) Invalid instrument

āωāϤ্āϤ⧰: (āĻ–) āĻ…āĻŦৈāϧ āϏঁāϜুāϞি


3. Promissory note must be signed by the ?

3. āĻĒ্ā§°āĻŽিāϛ⧰ী āϟোāĻ•াāϟো āϏ্āĻŦাāĻ•্āώ⧰ āϕ⧰িāĻŦ āϞাāĻ—িāĻŦ?

(a) Promissor (b) Payee (c) Maker (d) Drawer

(āĻ•) āĻĒ্ā§°āĻŽিāϛ⧰ (āĻ–) āĻĒā§°িāĻļোāϧāĻ•াā§°ী

(āĻ—) āύিā§°্āĻŽাāϤা (āϘ) āĻĄ্ā§°āϝ়াā§°

Ans: (c) Maker

āωāϤ্āϤ⧰: (āĻ—) āύিā§°্āĻŽাāϤা 


4. Which of the following instrument is allowed Grace Days?

4. āύিāĻŽ্āύāϞিāĻ–িāϤ āĻ•োāύāϟো āϏঁāϜুāϞিāĻ• āĻ—্ā§°েāĻ› āĻĄেāϜ⧰ āĻ…āύুāĻŽāϤি āĻĻিāϝ়া āĻšৈāĻ›ে? (a) Instrument not payable on demand (b) Instrument not payable (c) Instrument not payable on presentment (d) All of the above

(āĻ•) āϚাāĻšিāĻĻাā§° āĻ“āĻĒā§°āϤ āĻĒā§°িāĻļোāϧ āϕ⧰িāĻŦ āύোā§ąাā§°া āϏঁāϜুāϞি (āĻ–) āϏঁāϜুāϞি āĻĒā§°িāĻļোāϧ āϝোāĻ—্āϝ āύāĻšāϝ়

(āĻ—) āωāĻĒāϏ্āĻĨাāĻĒāύ⧰ āĻ“āĻĒā§°āϤ āĻĒā§°িāĻļোāϧ āϕ⧰িāĻŦ āύোā§ąাā§°া āϏঁāϜুāϞি (āϘ) āĻ“āĻĒā§°োāĻ•্āϤ āϏāĻ•āϞোāĻŦোā§°

Ans: (d) All of the above

āωāϤ্āϤ⧰: (āϘ) āĻ“āĻĒā§°ā§° āϏāĻ•āϞোāĻŦোā§° 


5. Bill of exchange must be accepted by the?

5. āĻŦিāύিāĻŽāϝ় āĻŦিāϞ āχāϝ়াā§° āĻĻ্āĻŦাā§°া āĻ—্ā§°āĻšāĻŖ āϕ⧰িāĻŦ āϞাāĻ—িāĻŦ? (a) Drawer (b) Maker (c) Payee (d) Drawee

(āĻ•) āĻĄ্ā§°āϝ়াā§° (āĻ–) āύিā§°্āĻŽাāϤা

(āĻ—) āĻĒā§°িāĻļোāϧāϕ⧰্āϤা (āϘ) āĻĄ্ā§°āϝ়ী

Ans: (d) Drawee

āωāϤ্āϤ⧰: (āϘ) āĻĄ্ā§°āϝ়ী


FILL IN THE BLANKS

āĻ–াāϞী āĻ াāχāĻŦোā§° āĻĒূā§°āĻŖ āϕ⧰āĻ•

1. One on whom bill is drawn is called as .......... [drawer/drawer]

1. āϝাā§° āĻ“āĻĒā§°āϤ āĻŦিāϞ āĻ…ংāĻ•āύ āϕ⧰া āĻšāϝ় āϤেāĻ“ঁāĻ• .āĻŦুāϞি āĻ•োā§ąা āĻšāϝ়.......   [āĻĄ্ā§°āϝ়াā§°/āĻĄ্ā§°āϝ়াā§°]

Ans: (1) Drawer

āωāϤ্āϤ⧰: (1) āĻĄ্ā§°āϝ়াā§°


2. B/E payable at sight is payable on .......... [demand/presentment]

2. āĻĻৃāώ্āϟিāϤ āĻĒā§°িāĻļোāϧ āϕ⧰িāĻŦāĻĒā§°া āĻŦি/āχ.   [āϚাāĻšিāĻĻা/āωāĻĒāϏ্āĻĨাāĻĒāύ]

Ans: (2) Demand

āωāϤ্āϤ⧰: (2) āϚাāĻšিāĻĻা


3. Cheque is always drawn upon a........ [bank/drawee]

3. āϚেāĻ• āϏāĻĻাāϝ়ে āĻāϟা ...  [āĻŦেংāĻ•/āĻĄ্ā§°āϝ়ী]

Ans: (3) Banker

āωāϤ্āϤ⧰: (3) āĻŦেংāĻ•াā§°  


4. Validity of a cheque is ............months [6/3]

4. āϚেāĻ•āĻāĻ–āύ⧰ āĻŦৈāϧāϤা āĻšৈāĻ›ে ........ āĻŽাāĻš [6/3]

Ans: (4) 3

āωāϤ্āϤ⧰: (4) 3


5. Cheque is always payable on ......... [demand/order]

5. āϚেāĻ• āϏāĻĻাāϝ়ে .... [āĻĻাāĻŦী/āĻ…ā§°্āĻĄাā§°]

Ans: (5) Demand

āωāϤ্āϤ⧰: (5) āϚাāĻšিāĻĻা


TRUE/FALSE

āϏāϤ্āϝ/āĻŽিāĻ›া

1. A bill drawn, accepted or endorsed without consideration is called as an accommodation bill.

1. āĻŦিāĻŦেāϚāύা āύāϕ⧰াāĻ•ৈ āĻ…ংāĻ•িāϤ, āĻ—্ā§°āĻšāĻŖ āϕ⧰া āĻŦা āϏāĻŽā§°্āĻĨāύ āϕ⧰া āĻŦিāϧেāϝ়āĻ•āĻ• āĻ†ā§ąাāϏ āĻŦিāϧেāϝ়āĻ• āĻŦুāϞি āĻ•োā§ąা āĻšāϝ়।

Ans: (1) True

āωāϤ্āϤ⧰: (1) āϏঁāϚা 


2. An inchoate instrument is a complete instrument.

2. āχāĻž্āϚোāϝ়েāϟ āϏঁāϜুāϞি āĻāϟা āϏāĻŽ্āĻĒূā§°্āĻŖ āϏঁāϜুāϞি।

Ans: (2) False

āωāϤ্āϤ⧰: (2) āĻŽিāĻ›া


3. A negotiable instrument delivered conditionally is called an escrow.

3. āϚ⧰্āϤāϏাāĻĒেāĻ•্āώে āĻĒ্ā§°āĻĻাāύ āϕ⧰া āĻāĻ• āĻŽীāĻŽাংāϏাāϝোāĻ—্āϝ āϏঁāϜুāϞিāĻ• āĻāϏ্āĻ•্ā§°' āĻŦুāϞি āĻ•োā§ąা āĻšāϝ়।

Ans: (3) True

āωāϤ্āϤ⧰: (3) āϏঁāϚা


4. A promissory note made in India, but payable in England is an example of a foreign instrument.

4. āĻ­াā§°āϤāϤ āϤৈāϝ়াā§° āϕ⧰া āĻāĻ• āĻĒ্ā§°āĻŽিāϛ⧰ী āϟোāĻ•া, āĻ•িāύ্āϤু āχংāϞেāĻŖ্āĻĄāϤ āĻĒā§°িāĻļোāϧ āϝোāĻ—্āϝ āĻšৈāĻ›ে āĻŦিāĻĻেāĻļী āϏঁāϜুāϞিā§° āĻāĻ• āωāĻĻাāĻšā§°āĻŖ।

Ans: (4) True

āωāϤ্āϤ⧰: (4) āϏঁāϚা

 

5. Exact mirror image of a paper cheque, is called as a cheque in the electronic form.

5. āĻ•াāĻ—āϜ⧰ āϚেāϕ⧰ āϏāĻ িāĻ• āĻŽিā§°'ā§° āĻ›āĻŦি, āχāϞেāĻ•্āϟ্ā§°āύিāĻ• āĻĒ্ā§°āĻĒāϤ্ā§°āϤ āϚেāĻ• āĻšিāϚাāĻĒে āĻ•োā§ąা āĻšāϝ়। 

Ans: (5) True

āωāϤ্āϤ⧰: (5) āϏঁāϚা


SHORT QUESTIONS

āϚāĻŽু āĻĒ্ā§°āĻļ্āύ 1. Differentiate between bill of exchange and promissory

1. āĻŦিāϞ āĻ…āĻĢ āĻāĻ•্āϏāϚেāĻž্āϜ āφ⧰ু āĻĒ্ā§°āĻŽিāϛ⧰ীā§° āĻŽাāϜāϤ āĻĒাā§°্āĻĨāĻ•্āϝ āϕ⧰āĻ•

Ans:

2. Differentiate between bill of exchange and cheque.

2. āĻŦিāϞ āĻ…āĻĢ āĻāĻ•্āϏāϚেāĻž্āϜ āφ⧰ু āϚেāϕ⧰ āĻŽাāϜāϤ āĻĒাā§°্āĻĨāĻ•্āϝ āϕ⧰āĻ•।

Ans:

3. Explain briefly about:

3. āϚāĻŽুāĻ•ৈ āĻŦā§°্āĻŖāύা āϕ⧰āĻ•:

Order Instrument Bearer Instrument

āĻ…ā§°্āĻĄাā§° āχāύāώ্āϟ্ā§°ুāĻŽেāĻŖ্āϟ

āĻŦাāĻšāĻ• āϏঁāϜুāϞি

Ans:

4. Can a cheque be payable on demand?

4. āϚাāĻšিāĻĻা āĻ…āύুāϝাāϝ়ী āϚেāĻ• āĻāϟা āĻĒā§°িāĻļোāϧ āϕ⧰িāĻŦ āĻĒাā§°িāύে?

Ans:

5. What do you mean by payable after sight for both bill of exchange and a promissory note?

5. āĻŦিāϞ āĻ…āĻĢ āĻāĻ•্āϏāϚেāĻž্āϜ āφ⧰ু āĻĒ্ā§°āĻŽিāϛ⧰ী āύোāϟ āĻĻুāϝ়োāϟাā§° āĻŦাāĻŦে āĻĻā§°্āĻļāύ⧰ āĻĒিāĻ›āϤ āĻĒā§°িāĻļোāϧ āϝোāĻ—্āϝ āĻŦুāϞি āφāĻĒুāύি āĻ•ি āĻŦুāϜাāϝ়?

Ans:

6. What is the significance of acceptance in a bill of exchange?

ā§Ŧ. āĻŦিāύিāĻŽāϝ় āĻŦিāϧেāϝ়āĻ•āϤ āĻ—্ā§°āĻšāĻŖāϝোāĻ—্āϝāϤাā§° āϤাā§ŽāĻĒā§°্āϝ āĻ•ি?

Ans:

7. How is the due date calculated for a bill of exchange payable two months after sight? The bill was presented for sight on 1 Jan, 2015.

7. āĻĻৃāώ্āϟিā§° āĻĻুāĻŽাāĻš āĻĒিāĻ›āϤ āĻĒā§°িāĻļোāϧ āϕ⧰িāĻŦāϞāĻ—া āĻŦিāύিāĻŽāϝ় āĻŦিāϞ⧰ āĻŦাāĻŦে āĻĻেāϝ় āϤাā§°িāĻ– āĻ•েāύেāĻĻā§°ে āĻ—āĻŖāύা āϕ⧰া āĻšāϝ়? āĻŦিāϧেāϝ়āĻ•āĻ–āύ 1 āϜাāύুā§ąাā§°ী, 2015 āϤাā§°িāĻ–ে āĻĻā§°্āĻļāύ⧰ āĻŦাāĻŦে āωāĻĒāϏ্āĻĨাāĻĒāύ āϕ⧰া āĻšৈāĻ›িāϞ।

[Hint:- 1. Jan' 2015 + 2 Months +3 Days of grace]

[āχāĻ™্āĻ—িāϤ:- 1। āϜাāύুā§ąাā§°ী 2015 + 2 āĻŽাāĻš +3 āĻĻিāύ⧰ āĻ…āύুāĻ—্ā§°āĻš]

Ans:

8. Write short notes on:

8. āϚāĻŽু āϟোāĻ•া āϞিāĻ–āĻ•:

Inchoate Instruments Escrow Accommodation Bills Fictitious Bills Bills in sets • Truncated cheque

āχāĻž্āϚোāϝ়েāϟ āχāύāώ্āϟ্ā§°ুāĻŽেāĻŖ্āϟāĻāϏ্āĻ•্ā§°ো

āĻ†ā§ąাāϏ āĻŦিāϞ āĻ•াāϞ্āĻĒāύিāĻ• āĻŦিāϞ

āϟ্ā§°াংāĻ•েāϟেāĻĄ āϚেāϕ⧰ • āĻ›েāϟāϤ āĻŦিāϞ

Ans:


LONG QUESTION

āĻĻীāϘāϞীāϝ়া āĻĒ্ā§°āĻļ্āύ

1. What is a promissory note? What are its essentials?

1. āĻĒ্ā§°āĻŽিāϛ⧰ী āϟোāĻ•া āĻ•ি? āχāϝ়াā§° āĻĒ্ā§°āϝ়োāϜāύীāϝ়āϤাāĻŦোā§° āĻ•ি?

Ans:


2. What is a bill of exchange? What are its essentials?

2. āĻŦিāύিāĻŽāϝ়ā§° āĻŦিāϞ āĻ•ি? āχāϝ়াā§° āĻĒ্ā§°āϝ়োāϜāύীāϝ়āϤাāĻŦোā§° āĻ•ি?

Ans:


3. Distinguish between :-

3. āĻŽাāϜāϤ āĻĒাā§°্āĻĨāĻ•্āϝ āϕ⧰āĻ•

Cheque & a Bill of Exchange

Promissory Note &a Bill of Exchange

āϚেāĻ• āφ⧰ু āĻŦিāϞ āĻ…āĻĢ āĻāĻ•্āϏāϚেāĻž্āϜ āĻĒ্ā§°āĻŽিāϛ⧰ী āύোāϟ āφ⧰ু āĻŦিāϞ āĻ…āĻĢ āĻāĻ•্āϏāϚেāĻž্āϜ

Ans:

Edit By- Mandira Saha


Post Id: DABP003558