Unit 5
Chapter 3
Parties to Negotiable Instruments and their Liabilities
āύেāĻোāĻিāϝ়েāĻŦāϞ āĻāύāώ্āĻ্ā§°ুāĻŽেāĻŖ্āĻ āĻā§°ু āϏেāĻāĻŦোā§°ā§° āĻĻাāϝ়āĻŦāĻĻ্āϧāϤাā§° āĻĒāĻ্āώāϏāĻŽূāĻš
Questions
āĻĒ্ā§°āĻļ্āύāϏāĻŽূāĻš
MULTIPLE CHOIE QUESTIONS
āĻāĻাāϧিāĻ āĻোāĻ āĻĒ্ā§°āĻļ্āύ
1. Which of the following is not party to a negotiable instrument?
1. āύিāĻŽ্āύāϞিāĻিāϤ āĻোāύāĻো āĻŽীāĻŽাংāϏাāϝোāĻ্āϝ āϏঁāĻুāϞিā§° āĻĒāĻ্āώ āύāĻšāϝ়?
(a) Maker (b) Payee
(c) Acceptor (d) None of the above
(āĻ) āύিā§°্āĻŽাāϤা (āĻ) āĻĒā§°িāĻļোāϧāĻā§°্āϤা
(āĻ) āĻ্ā§°āĻšāĻŖāĻাā§°ী (āĻ) āĻāĻĒā§°ā§° āĻোāύোāĻো āύāĻšāϝ়
Ans: (d) None of the above
āĻāϤ্āϤ⧰: (āĻ) āĻāĻĒā§°ā§° āĻোāύোāĻো āύāĻšāϝ়
2. Who can become a party to a Negotiable Instrument?
2. āĻোāύ āύেāĻোāĻিāϝ়েāĻŦāϞ āĻāύāώ্āĻ্ā§°ুāĻŽেāĻŖ্āĻā§° āĻĒাā§°্āĻি āĻš'āĻŦ āĻĒাā§°ে?
(a) A Major
(b) A person of sound mind
(c) A person not disqualified by any other law
(d) All of the above
(āĻ) āĻāĻāύ āĻŽেāĻā§°
(āĻ) āĻļāĻŦ্āĻĻ āĻŽāύ⧰ āĻāĻāύ āĻŦ্āϝāĻ্āϤি
(āĻ) āĻāύ āĻোāύো āĻāĻāύ⧰ āĻĻ্āĻŦাā§°া āĻ āϝোāĻ্āϝ āύোāĻšোā§ąা āĻŦ্āϝāĻ্āϤি
(āĻ) āĻāĻĒā§°োāĻ্āϤ āϏāĻāϞোāĻŦোā§°
Ans: (b) A person of sound mind
āĻāϤ্āϤ⧰: (āĻ) āĻļāĻŦ্āĻĻ āĻŽāύ⧰ āĻāĻāύ āĻŦ্āϝāĻ্āϤি
3. Who is a party in a bill of exchange?
3. āĻŦিāύিāĻŽāϝ় āĻŦিāϧেāϝ়āĻāϤ āĻোāύ āĻĻāϞ?
(a) Drawer and Drawee (b) Acceptor
(c) Acceptor in case of need (d) All of the above
(āĻ) āĻĄ্ā§°āϝ়াā§° āĻā§°ু āĻĄ্ā§°āϝ়ী (āĻ) āĻ্ā§°āĻšāĻŖāĻাā§°ী (āĻ) āĻĒ্ā§°āϝ়োāĻāύ⧰ āĻ্āώেāϤ্ā§°āϤ āĻ্ā§°āĻšāĻŖāĻাā§°ী (āĻ) āĻāĻĒā§°োāĻ্āϤ āϏāĻāϞোāĻŦোā§°
Ans: (d) All of the above
āĻāϤ্āϤ⧰: (āĻ) āĻāĻĒā§°ā§° āϏāĻāϞোāĻŦোā§°
FILL IN THE BLANKS
āĻাāϞী āĻ াāĻāĻŦোā§° āĻĒূā§°āĻŖ āĻā§°āĻ
1..............is a person in whose favour the indorsement is made. [Indorsee/Indorser]
1. ............. āĻāĻāύ āĻŦ্āϝāĻ্āϤি āϝাā§° āĻĒāĻ্āώāϤ āĻāύāĻĄā§°্āĻŽেāĻŖ্āĻ āĻĒ্ā§°āϏ্āϤুāϤ āĻā§°া āĻšāϝ়। [āĻāĻŖ্āĻĄোā§°্āĻি/āĻāĻŖ্āĻĄোā§°্āĻাā§°]
Ans: (1) Indorsee
āĻāϤ্āϤ⧰: (1) āĻāĻŖ্āĻĄোā§°্āĻি
2. ............the bill of exchange means the bill has been accepted. [Drawing/signing)
2. ............ āĻŦিāύিāĻŽāϝ় āĻŦিāϧেāϝ়āĻā§° āĻ ā§°্āĻĨ āĻšৈāĻে āĻŦিāϧেāϝ়āĻāĻāύ āĻ্ā§°āĻšāĻŖ āĻā§°া āĻšৈāĻে। [āĻ ংāĻāύ/āϏ্āĻŦাāĻ্āώ⧰)
Ans: (2) signing
āĻāϤ্āϤ⧰: (2) āϏ্āĻŦাāĻ্āώ⧰
3. In case of a cheque.............is the payee. [customer/bank]
3. āĻেāĻā§° āĻ্āώেāϤ্ā§°āϤ...... āĻĒā§°িāĻļোāϧāĻā§°্āϤা। [āĻ্ā§°াāĻšāĻ/āĻŦেāĻ্āĻ]
Ans: (3) customer,
āĻāϤ্āϤ⧰: (3) āĻ্ā§°াāĻšāĻ
4. In case of a bill of exchange ............is the payee. [drawer/drawee]
4. āĻŦিāύিāĻŽāϝ়āĻŦিāϞ⧰ āĻ্āώেāϤ্ā§°āϤ... ... āĻĒā§°িāĻļোāϧāĻā§°্āϤা। [āĻĄ্ā§°āϝ়াā§°/āĻĄ্ā§°āϝ়ি]
Ans: (4) drawer
āĻāϤ্āϤ⧰: (4) āĻĄ্ā§°āϝ়াā§°
5. Maker is the one who promises to ........... a certain sum of money. [pay/receive]
5. āĻŽেāĻাā§° āĻšৈāĻে āϏেāĻāĻāύ āϝিāϝ়ে āĻĒ্ā§°āϤিāĻļ্ā§°ুāϤি āĻĻিāϝ়ে.... āĻāĻ āύিā§°্āĻĻিāώ্āĻ āĻĒā§°িāĻŽাāĻŖā§° āϧāύ। [āĻĒā§°িāĻļোāϧ/āĻĒ্ā§°াāĻĒ্āϤি]
Ans: (5) pay
āĻāϤ্āϤ⧰: (5) āĻĻā§°āĻŽāĻšা
TRUE/FALSE
āϏāϤ্āϝ/āĻŽিāĻা
1. Holder is not entitled in his own name to the possession of the instrument.
1. āĻšোāϞ্āĻĄাā§° āϏঁāĻুāϞিāĻোā§° āĻ āϧিāĻাā§°ā§° āĻŦাāĻŦে āϤেāĻঁā§° āύিāĻā§° āύাāĻŽāϤ āĻ āϧিāĻাā§°āĻĒ্ā§°াāĻĒ্āϤ āύāĻšāϝ়।
Ans: (1) False
āĻāϤ্āϤ⧰: (1) āĻŽিāĻা
2. The liability of a maker of a promissory note is unconditional and absolute.
2. āĻĒ্ā§°āĻŽিāĻā§°ী āύোāĻ āĻāĻা āύিā§°্āĻŽাāϤাā§° āĻĻাāϝ়āĻŦāĻĻ্āϧāϤা āĻā§°্āϤāĻšীāύ āĻā§°ু āĻĒā§°āĻŽ।
Ans: (2) True
āĻāϤ্āϤ⧰: (⧍) āϏঁāĻা
3. All prior parties in a negotiable instrument are liable to a holder in due course.
3. āĻāĻ āĻŽীāĻŽাংāϏাāϝোāĻ্āϝ āϏঁāĻুāϞিā§° āϏāĻāϞো āĻāĻāϤীāϝ়া āĻĒāĻ্āώ āϝāĻĨা āϏāĻŽāϝ়āϤ āϧাā§°āĻā§° āĻāĻā§°āϤ āĻĻাāϝ়āĻŦāĻĻ্āϧ।
Ans: (3) True
āĻāϤ্āϤ⧰: (3) āϏঁāĻা
SHORT QUESTIONS
āĻāĻŽু āĻĒ্ā§°āĻļ্āύ 1. To what extent a minor can be a party to a Negotiable Instrument ?
1. āĻāĻāύ āύাāĻŦাāϞāĻ āĻিāĻŽাāύ āĻĒā§°িāĻŽাāĻŖে āύেāĻোāĻিāϝ়েāĻŦāϞ āĻāύāώ্āĻ্ā§°ুāĻŽেāĻŖ্āĻā§° āĻĒাā§°্āĻি āĻš'āĻŦ āĻĒাā§°ে?
Ans:
2. What are the liabilities of the following in case of a bill of exchange?
2. āĻŦিāύিāĻŽāϝ় āĻŦিāϞ⧰ āĻ্āώেāϤ্ā§°āϤ āύিāĻŽ্āύāϞিāĻিāϤāĻŦোā§°ā§° āĻĻাāϝ়āĻŦāĻĻ্āϧāϤা āĻŦোā§° āĻি? (a) drawer (b) indorsers
(āĻ) āĻĄ্ā§°āϝ়াā§° (āĻ) āĻāĻŖ্āĻĄাā§°āĻাā§°
Ans:
3. Define the following:
3. āύিāĻŽ্āύāϞিāĻিāϤāĻŦোā§° āύিā§°্āϧাā§°āĻŖ āĻā§°āĻ: (a) Maker (b) Payee
(āĻ) āύিā§°্āĻŽাāϤা
(āĻ) āĻĒā§°িāĻļোāϧāĻā§°্āϤা
Ans:
4. Who is a drawee in case of need?
4. āĻĒ্ā§°āϝ়োāĻāύ⧰ āĻ্āώেāϤ্ā§°āϤ āĻোāύ āĻāĻāύ āĻāĻā§°্āώāĻŖীāϝ় āĻŦ্āϝāĻ্āϤি?
Ans:
5. Who is an acceptor for honour?
ā§Ģ. āϏāύ্āĻŽাāύ⧰ āĻŦাāĻŦে āĻ্ā§°āĻšāĻŖāĻাā§°ী āĻোāύ?
Ans:
LONG QUESTIONS
āĻĻীāĻāϞীāϝ়া āĻĒ্ā§°āĻļ্āύ 1. Discuss in detail the liabilities of the parties to the negotiable instruments.
1. āĻŽীāĻŽাংāϏাāϝোāĻ্āϝ āϏঁāĻুāϞিāĻŦোā§°ā§° āĻĒāĻ্āώāĻŦোā§°ā§° āĻĻাāϝ়āĻŦāĻĻ্āϧāϤাāĻŦোā§° āĻŦিāϤংāĻাā§ąে āĻāϞোāĻāύা āĻā§°āĻ।
Ans:
2. Who are the parties in a :
2. āĻāĻাāϤ āĻোāύāĻŦোā§° āĻĒাā§°্āĻি āĻāĻে:
(a) Bill of exchange; and (b) Promisory Note?
(āĻ) āĻŦিāύিāĻŽāϝ় āĻŦিāϧেāϝ়āĻ; āĻā§°ু (āĻ) āĻĒ্ā§°āĻŽিāĻā§°ী āĻোāĻা?
Ans:
3. Write in detail about the capacity of the parties to the negotiable instrument.
3. āĻŽীāĻŽাংāϏাāϝোāĻ্āϝ āϏঁāĻুāϞিā§° āĻĒāĻ্āώāĻŦোā§°ā§° āϏাāĻŽā§°্āĻĨ্āϝ⧰ āĻŦিāώāϝ়ে āĻŦিāϤংāĻাā§ąে āϞিāĻāĻ।
Ans: