Unit 5

Chapter 3

Parties to Negotiable Instruments and their Liabilities

āύেāĻ—োāϚিāϝ়েāĻŦāϞ āχāύāώ্āϟ্ā§°ুāĻŽেāĻŖ্āϟ āφ⧰ু āϏেāχāĻŦোā§°ā§° āĻĻাāϝ়āĻŦāĻĻ্āϧāϤাā§° āĻĒāĻ•্āώāϏāĻŽূāĻš


Questions

āĻĒ্ā§°āĻļ্āύāϏāĻŽূāĻš

MULTIPLE CHOIE QUESTIONS

āĻāĻ•াāϧিāĻ• āϚোāχ āĻĒ্ā§°āĻļ্āύ

1. Which of the following is not party to a negotiable instrument?

1. āύিāĻŽ্āύāϞিāĻ–িāϤ āĻ•োāύāϟো āĻŽীāĻŽাংāϏাāϝোāĻ—্āϝ āϏঁāϜুāϞিā§° āĻĒāĻ•্āώ āύāĻšāϝ়?

(a) Maker       (b) Payee

(c) Acceptor   (d) None of the above

(āĻ•) āύিā§°্āĻŽাāϤা (āĻ–) āĻĒā§°িāĻļোāϧāϕ⧰্āϤা

(āĻ—) āĻ—্ā§°āĻšāĻŖāĻ•াā§°ী (āϘ) āĻ“āĻĒā§°ā§° āĻ•োāύোāϟো āύāĻšāϝ়

Ans: (d) None of the above

āωāϤ্āϤ⧰: (āϘ) āĻ“āĻĒā§°ā§° āĻ•োāύোāϟো āύāĻšāϝ়

2. Who can become a party to a Negotiable Instrument?

2. āĻ•োāύ āύেāĻ—োāϚিāϝ়েāĻŦāϞ āχāύāώ্āϟ্ā§°ুāĻŽেāĻŖ্āϟ⧰ āĻĒাā§°্āϟি 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•) āĻāϜāύ āĻŽেāϜ⧰

(āĻ–) āĻļāĻŦ্āĻĻ āĻŽāύ⧰ āĻāϜāύ āĻŦ্āϝāĻ•্āϤি

(āĻ—) āφāύ āĻ•োāύো āφāχāύ⧰ āĻĻ্āĻŦাā§°া āĻ…āϝোāĻ—্āϝ āύোāĻšোā§ąা āĻŦ্āϝāĻ•্āϤি 

(āϘ) āĻ“āĻĒā§°োāĻ•্āϤ āϏāĻ•āϞোāĻŦোā§°

Ans: (b) A person of sound mind

āωāϤ্āϤ⧰: (āĻ–) āĻļāĻŦ্āĻĻ āĻŽāύ⧰ āĻāϜāύ āĻŦ্āϝāĻ•্āϤি


3. Who is a party in a bill of exchange?

3. āĻŦিāύিāĻŽāϝ় āĻŦিāϧেāϝ়āĻ•āϤ āĻ•োāύ āĻĻāϞ?

(a) Drawer and Drawee (b) Acceptor

(c) Acceptor in case of need (d) All of the above

(āĻ•) āĻĄ্ā§°āϝ়াā§° āφ⧰ু āĻĄ্ā§°āϝ়ী (āĻ–) āĻ—্ā§°āĻšāĻŖāĻ•াā§°ী (āĻ—) āĻĒ্ā§°āϝ়োāϜāύ⧰ āĻ•্āώেāϤ্ā§°āϤ āĻ—্ā§°āĻšāĻŖāĻ•াā§°ী (āϘ) āĻ“āĻĒā§°োāĻ•্āϤ āϏāĻ•āϞোāĻŦোā§°

Ans: (d) All of the above

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


FILL IN THE BLANKS

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

1..............is a person in whose favour the indorsement is made. [Indorsee/Indorser]

1. ............. āĻāϜāύ āĻŦ্āϝāĻ•্āϤি āϝাā§° āĻĒāĻ•্āώāϤ āχāύāĻĄā§°্āĻŽেāĻŖ্āϟ āĻĒ্ā§°āϏ্āϤুāϤ āϕ⧰া āĻšāϝ়।  [āχāĻŖ্āĻĄোā§°্āϚি/āχāĻŖ্āĻĄোā§°্āϚাā§°]

Ans: (1) Indorsee

āωāϤ্āϤ⧰: (1) āχāĻŖ্āĻĄোā§°্āϚি


2. ............the bill of exchange means the bill has been accepted. [Drawing/signing)

2. ............ āĻŦিāύিāĻŽāϝ় āĻŦিāϧেāϝ়āϕ⧰ āĻ…ā§°্āĻĨ āĻšৈāĻ›ে āĻŦিāϧেāϝ়āĻ•āĻ–āύ āĻ—্ā§°āĻšāĻŖ āϕ⧰া āĻšৈāĻ›ে।  [āĻ…ংāĻ•āύ/āϏ্āĻŦাāĻ•্āώ⧰)

Ans: (2) signing

āωāϤ্āϤ⧰: (2) āϏ্āĻŦাāĻ•্āώ⧰ 


3. In case of a cheque.............is the payee. [customer/bank]

3. āϚেāϕ⧰ āĻ•্āώেāϤ্ā§°āϤ...... āĻĒā§°িāĻļোāϧāϕ⧰্āϤা। [āĻ—্ā§°াāĻšāĻ•/āĻŦেāĻ™্āĻ•]

Ans: (3) customer,

āωāϤ্āϤ⧰: (3) āĻ—্ā§°াāĻšāĻ•


4. In case of a bill of exchange ............is the payee. [drawer/drawee]

4. āĻŦিāύিāĻŽāϝ়āĻŦিāϞ⧰ āĻ•্āώেāϤ্ā§°āϤ... ... āĻĒā§°িāĻļোāϧāϕ⧰্āϤা।   [āĻĄ্ā§°āϝ়াā§°/āĻĄ্ā§°āϝ়ি]

Ans: (4) drawer

āωāϤ্āϤ⧰: (4) āĻĄ্ā§°āϝ়াā§°


5. Maker is the one who promises to ........... a certain sum of money. [pay/receive]

5. āĻŽেāĻ•াā§° āĻšৈāĻ›ে āϏেāχāϜāύ āϝিāϝ়ে āĻĒ্ā§°āϤিāĻļ্ā§°ুāϤি āĻĻিāϝ়ে.... āĻāĻ• āύিā§°্āĻĻিāώ্āϟ āĻĒā§°িāĻŽাāĻŖā§° āϧāύ। [āĻĒā§°িāĻļোāϧ/āĻĒ্ā§°াāĻĒ্āϤি]

Ans: (5) pay

āωāϤ্āϤ⧰: (5) āĻĻā§°āĻŽāĻšা

TRUE/FALSE

āϏāϤ্āϝ/āĻŽিāĻ›া

1. Holder is not entitled in his own name to the possession of the instrument.

1. āĻšোāϞ্āĻĄাā§° āϏঁāϜুāϞিāϟোā§° āĻ…āϧিāĻ•াā§°ā§° āĻŦাāĻŦে āϤেāĻ“ঁā§° āύিāϜ⧰ āύাāĻŽāϤ āĻ…āϧিāĻ•াā§°āĻĒ্ā§°াāĻĒ্āϤ āύāĻšāϝ়।

Ans: (1) False

āωāϤ্āϤ⧰: (1) āĻŽিāĻ›া

2. The liability of a maker of a promissory note is unconditional and absolute.

2. āĻĒ্ā§°āĻŽিāϛ⧰ী āύোāϟ āĻāϟা āύিā§°্āĻŽাāϤাā§° āĻĻাāϝ়āĻŦāĻĻ্āϧāϤা āϚ⧰্āϤāĻšীāύ āφ⧰ু āĻĒā§°āĻŽ।

Ans: (2) True

āωāϤ্āϤ⧰: (⧍) āϏঁāϚা

3. All prior parties in a negotiable instrument are liable to a holder in due course.

3. āĻāĻ• āĻŽীāĻŽাংāϏাāϝোāĻ—্āϝ āϏঁāϜুāϞিā§° āϏāĻ•āϞো āφāĻ—āϤীāϝ়া āĻĒāĻ•্āώ āϝāĻĨা āϏāĻŽāϝ়āϤ āϧাā§°āϕ⧰ āĻ“āϚ⧰āϤ āĻĻাāϝ়āĻŦāĻĻ্āϧ। 

Ans: (3) True

āωāϤ্āϤ⧰: (3) āϏঁāϚা


SHORT QUESTIONS

āϚāĻŽু āĻĒ্ā§°āĻļ্āύ 1. To what extent a minor can be a party to a Negotiable Instrument ?

1. āĻāϜāύ āύাāĻŦাāϞāĻ• āĻ•িāĻŽাāύ āĻĒā§°িāĻŽাāĻŖে āύেāĻ—োāϚিāϝ়েāĻŦāϞ āχāύāώ্āϟ্ā§°ুāĻŽেāĻŖ্āϟ⧰ āĻĒাā§°্āϟি āĻš'āĻŦ āĻĒাā§°ে?

Ans:

2. What are the liabilities of the following in case of a bill of exchange?

2. āĻŦিāύিāĻŽāϝ় āĻŦিāϞ⧰ āĻ•্āώেāϤ্ā§°āϤ āύিāĻŽ্āύāϞিāĻ–িāϤāĻŦোā§°ā§° āĻĻাāϝ়āĻŦāĻĻ্āϧāϤা āĻŦোā§° āĻ•ি? (a) drawer (b) indorsers

(āĻ•) āĻĄ্ā§°āϝ়াā§° (āĻ–) āχāĻŖ্āĻĄাā§°āϚাā§°

Ans:

3. Define the following:

3. āύিāĻŽ্āύāϞিāĻ–িāϤāĻŦোā§° āύিā§°্āϧাā§°āĻŖ āϕ⧰āĻ•: (a) Maker (b) Payee

(āĻ•) āύিā§°্āĻŽাāϤা

(āĻ–) āĻĒā§°িāĻļোāϧāϕ⧰্āϤা

Ans:

4. Who is a drawee in case of need?

4. āĻĒ্ā§°āϝ়োāϜāύ⧰ āĻ•্āώেāϤ্ā§°āϤ āĻ•োāύ āĻāϜāύ āφāϕ⧰্āώāĻŖীāϝ় āĻŦ্āϝāĻ•্āϤি?

Ans:

5. Who is an acceptor for honour?

ā§Ģ. āϏāύ্āĻŽাāύ⧰ āĻŦাāĻŦে āĻ—্ā§°āĻšāĻŖāĻ•াā§°ী āĻ•োāύ?

Ans:

LONG QUESTIONS

āĻĻীāϘāϞীāϝ়া āĻĒ্ā§°āĻļ্āύ 1. Discuss in detail the liabilities of the parties to the negotiable instruments.

1. āĻŽীāĻŽাংāϏাāϝোāĻ—্āϝ āϏঁāϜুāϞিāĻŦোā§°ā§° āĻĒāĻ•্āώāĻŦোā§°ā§° āĻĻাāϝ়āĻŦāĻĻ্āϧāϤাāĻŦোā§° āĻŦিāϤংāĻ­াā§ąে āφāϞোāϚāύা āϕ⧰āĻ•।

Ans:

2. Who are the parties in a :

2. āĻāϟাāϤ āĻ•োāύāĻŦোā§° āĻĒাā§°্āϟি āφāĻ›ে:

(a) Bill of exchange; and (b) Promisory Note?

(āĻ•) āĻŦিāύিāĻŽāϝ় āĻŦিāϧেāϝ়āĻ•; āφ⧰ু (āĻ–) āĻĒ্ā§°āĻŽিāϛ⧰ী āϟোāĻ•া?

Ans:

3. Write in detail about the capacity of the parties to the negotiable instrument.

3. āĻŽীāĻŽাংāϏাāϝোāĻ—্āϝ āϏঁāϜুāϞিā§° āĻĒāĻ•্āώāĻŦোā§°ā§° āϏাāĻŽā§°্āĻĨ্āϝ⧰ āĻŦিāώāϝ়ে āĻŦিāϤংāĻ­াā§ąে āϞিāĻ–āĻ•।

Ans:





Type: Priyam Jyoti Patar


Post Id: DABP003557