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Negotiable Instruments Act MCQs for Competitive Exams

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Negotiable Instruments Act MCQs for Competitive Exams

Practice with answers, explanations, and exam-focused revision notes.

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Topic Notes: Negotiable Instruments Act

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Quick Overview

Negotiable Instruments Act MCQs in Commerce are useful for candidates who need targeted practice for CSS, PMS, FPSC, PPSC, NTS, entry tests, and other competitive exams in Pakistan. This topic page is designed for quick revision, repeated practice, and exam-focused preparation.

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21
What is the nature of the liability imposed under Section 138 of the Negotiable Instruments Act, 1881?
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22
Which of the following items does not qualify as a negotiable instrument?
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23
Match the following legal definitions with their corresponding sections under the Negotiable Instruments Act.
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24
Evaluate the following assertion and reason regarding the Foreign Exchange Management Act (FEMA): (A) Under FEMA, the receiver of laundered money is to be made culpable. (R) FEMA differs from the earlier FERA regarding penalties and punishment.
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25
According to the Negotiable Instruments Act, how many hours (excluding public holidays) must the holder of a bill of exchange allow the drawee to decide on acceptance before other parties are discharged from liability?
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26
Under the Negotiable Instruments Act, what is the maximum term of imprisonment for a drawer whose cheque is dishonored due to insufficient funds?
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27
According to Section 14 of the Negotiable Instruments Act, what is the term used when a promissory note, bill of exchange, or cheque is transferred to another person to constitute them as the holder?
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28
Which specific section of the Negotiable Instruments Act addresses the dishonour of an instrument by non-payment?
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29
Which legislation governs the legal framework for promissory notes, bills of exchange, and cheques?
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30
A cheque is defined as a specific type of bill of exchange drawn upon which entity?
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