AIBE III 2012 Question 22

Read this AIBE previous year question with options and the official answer-key label, or start the timed PYQ practice for the full paper.

LegalAlphabet is not the official AIBE portal and is not affiliated with or endorsed by the Bar Council of India or AIBE. Use the official AIBE portal for notices, admit cards, results, and final instructions.

Start timed practice All AIBE papers

Question 22 of 100 AIBE III 2012 Set Common

Which of the following Statements is least accurate in relation to 'negotiable instruments' under the Negotiable Instruments Act, 1881?

A A 'negotiable instrument' means a promissory note, bill of exchange, or cheque payable either to order or to bearer.
B 'Negotiation' of an instrument means the transfer of a promissory note, bill of exchange, or cheque to any person, which makes that person the holder of the instrument.
C A person affixing a signature on an instrument for the purposes of negotiation of the instrument is known as an 'indorser'.
D A 'negotiable instrument' is only for the payment of money.
E A negotiable instrument may not be presumed to be made or drawn for consideration. Official answer