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According to Negotiable Instrument Act, 1881, which of the following refers to “an instrument in writing (not being a bank note or a currency note) containing unconditional undertaking, signed by the maker to pay on demand or at a fixed or determinable future time a certain sum of money only to or to the order of a certain person, or to the bearer of the instrument”?
  • a)
    Bill of exchange
  • b)
    Cheque
  • c)
    Promissory note
  • d)
    Bearer debentures
Correct answer is option 'A'. Can you explain this answer?
Verified Answer
According to Negotiable Instrument Act, 1881, which of the following r...
A bill of exchange is a written order used primarily in international trade that binds one party to pay a fixed sum of money to another party on demand or at a predetermined date.
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Most Upvoted Answer
According to Negotiable Instrument Act, 1881, which of the following r...
The correct answer is (C) Promissory Note, containing unconditional undertaking and signed by the maker to pay on demand or at fixed time.
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Community Answer
According to Negotiable Instrument Act, 1881, which of the following r...
I THINK ANS PROM NOTE   PLEASE MENTION IF I AM WRONG

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According to Negotiable Instrument Act, 1881, which of the following refers to “an instrument in writing (not being abank noteor a currency note) containing unconditional undertaking, signed by the maker to pay on demand or at a fixed or determinable future time a certain sum ofmoneyonly to or to the order of a certain person, or to the bearer of the instrument”?a)Bill of exchangeb)Chequec)Promissorynoted)Bearer debenturesCorrect answer is option 'A'. Can you explain this answer?
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