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Question
According to Negotiable Instruments Act, 1881, a negotiable instrument does not include __________.
According to Negotiable Instruments Act, 1881, a negotiable instrument does not include __________.
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Solution
The correct option is D share certificate
The term Negotiable Instrument has been defined under section 13(1) of Negotiable Instrument Act, 1881. According to the section, a Negotiable Instrument means a promissory note, bill of exchange or cheque payable either to order or to bearer. It is basically a piece of paper which entitles a person to a sum of money and which is transferable from one person to another by mere delivery or by endorsement and delivery.
The term Negotiable Instrument has been defined under section 13(1) of Negotiable Instrument Act, 1881. According to the section, a Negotiable Instrument means a promissory note, bill of exchange or cheque payable either to order or to bearer. It is basically a piece of paper which entitles a person to a sum of money and which is transferable from one person to another by mere delivery or by endorsement and delivery.
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