Given below are two statements, one labeled as Assertion (A) and the other labeled as Reason (R). Read the statements and choose the correct answer using the given below. Assertion (A): A 'negotiable instrument' means a promissory note, bill of exchange or cheque payable either to order or to bearer. Reason (R): Because it is said so under Section 13 of the Negotiable Instruments Act, 1881.

Which of the following is/are true about the Negotiable Instruments Act, the Promissory Note?
1. Definition of Promissory Note is given in section 8 of the Negotiable Instrument Act
2. Containing an unconditional undertaking
3. To pay a certain sum of money only to a specific person or the bearer
4. The seller is bound to accept the promissory note
5. A document was written and signed by the payer/maker

A

2, 3 and 5

B

2, 3 and 4

C

1, 2, 3 and 4

D

All of the above

Which of the following is/are true about Bill of Exchange?
1. A bill of exchange requires in its inception two parties.
2. A bill of exchange or 'draft' is a written order by the drawer to the drawee to pay money to the payee.
3. Bills of exchange are used primarily in international trade, and are written orders by one person to his bank to pay the bearer a specific sum on a specific date.
4. Definition of 'Bill of Exchange' is mentioned in Section 6 of the Negotiable Instrument Act.

A

1 and 4

B

1, 2 and 4

C

2 and 3

D

3 and 4

Given below are two statements, one labeled as Assertion (A) and the other labeled as Reason (R). Read the statements and choose the correct answer using the given below.
Assertion (A): A child adopted under the Hindu Adoptions and Maintenance Act, 1956 shall be deemed to be the child of his or her father or mother for all purposes with effect from the date of adoption.
Reason (R): A validly adopted child may renounce his or her status as such after attaining the age of 21 years and return to his/her family of birth.

A

(A) is correct and (R) is true explanation of (A).

B

(A) is false, but (R) is correct.

C

(A) is correct, but (R) is false.

D

Both (A) and (R) are incorrect.

Given below are two statements, one labeled as Assertion (A) and the other labeled as Reason (R). Read the statements and choose the correct answer using the given below.
Assertion (A): The communication of a proposal is complete when it comes to the knowledge of the person to whom it is made.
Reason (R): Section 4 of the Indian Contract Act, 1872 deals with the issue of completeness of communication.

A

Both (A) and (R) are correct, but (R) is not related to (A)

B

(A) is correct, but (R) is false

C

(R) is correct, but (A) is false

D

Both (A) and (R) are true and (R) is the correct explanation of (A)

Given below are two statements, one labeled as Assertion (A) and the other labeled as Reason (R). Read the statements and choose the correct answer using the given below.
Assertion (A): 'Act of God' is a kind of evitable accident with the difference that it arises out of the working of human forces.
Reason (R): The occurrence need not be unique, nor need it be one that happens for the first time; it is enough that it is extraordinary, and such as could not reasonably be anticipated.

A

Both (A) and (R) are true and (R) is the correct explanation of (A)

B

Both (A) and (R) are true, but (R) is not the correct explanation of (A)

C

(A) is true, but (R) is false

D

(A) is false, but (R) is true

Under section 11 of the Negotiable Instruments Act, a promissory note, bill of exchange or cheque drawn or made in India, and made payable in, or drawn upon any person resident in India is . . . . . . . .

A

Inland instrument

B

Foreign instrument

C

Negotiable instrument

D

Indorsement

M drew a cheque amounting to Rs. 2 lakh payable to N and subsequently delivered to him. After receipt of cheque N endorsed the same to C but kept it in his safe locker. After sometime, N died, and P found the cheque in N's safe locker. State the nature of the Instrument as amounting to indorsement under the Negotiable Instruments Act, 1881.

A

Yes its an endorsement, as P becomes the holder of the cheque that he found in the N's safe locker

B

No, its not an endorsement, as P does not become the holder of the cheque

C

Yes, its an endorsement, as P was a ultimate custodian of the cheque

D

No, its not an endorsement, as Nendorsed it to Cand not to the P

Given below are two statements, one labeled as Assertion (A) and the other labeled as Reason (R). Read the statements and choose the correct answer using the given below.
Assertion (A): In the matters of absolute privilege, no action lies for the defamatory statement even though the statement is false or has been made maliciously.
Reason (R): Whether a statement is defamatory or not depends upon how the right thinking members of the society are likely to take it.

A

Both (A) and (R) are true but (R) is not correct explanation of (A)

B

Both (A) and (R) are true, and (R) is the correct explanation of (A)

C

(A) is true, but (R) is false

D

(A) is false, but (R) is true

Which of the following statements are true in context of a cheque?
1. Cheque is a special kind of Bill of Exchange.
2. Cheque is always payable on demand.
3. Validity of Cheque is 6 months.
4. Cheque doesn't require any stamping.

A

1, 2 and 3

B

1, 2 and 4

C

1, 2, 3 and 4

D

2, 3 and 4

Under Section 23 of Negotiable Instruments Act, a promissory note or bill of exchange, dated 31^st August, 2018 is made payable three months after date. The instrument is at maturity of the . . . . . . . . ?

A

30th November, 2018

B

31st November, 2018

C

1st December, 2018

D

3rd December, 2018