CAF-4 · Chapter 14 · Question 1 of 8
Which of the following acts contains the law relating to promissory notes, bills of exchange, and cheques in Pakistan?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) The Negotiable Instruments Act, 1881
Explanation
The law relating to negotiable instruments in Pakistan is contained in the Negotiable Instruments Act, 1881.
More Negotiable instruments MCQs
- Q3Evaluate the validity of the following statement written on a document: 'I promise to pay Khalid or order Rs. 12,000 six days after Saad’s…
- Q4Which of the following phrases makes a promissory note INVALID?
- Q5Evaluate the validity of this note: 'I promise to pay Adil or order Rs. 5,000 and 500 shares of Sigma Limited.'
- Q6In the context of a cheque, who is the 'drawee'?
- Q7Mujahid owes Rs. 500,000 to Shoaib and wants to issue a time instrument to settle the debt. Which document should Mujahid draft and sign?