As per the Negotiable Instrument Act, 1881, which of the accompanying alludes to 'an instrument recorded as a hard copy (not being a monetary certificate or a cash note) containing unlimited endeavour, endorsed by the producer to pay on request or at a fixed or definable future time a specific amount of cash just to or to the request for someone in particular, or the carrier of the instrument'?

🎲 Try a Random Question  |  Total Questions in Quiz: 20  |  🧠 Study this quiz with Flashcards
This question is part of a full practice quiz:
Bills of Exchange Practice Test Questions — practice the complete quiz, review flashcards, or try a random question.

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.

Common types of Bill of Exchange are:
Demand Bill: This bill is payable when it demanded. The bill does not have a fixed date of payment, therefore, the bill has to be cleared whenever presented.
Usance Bill: It is a time-bound bill which means the payment has to be made within the given time period and time.


As per the Negotiable Instrument Act, 1881, which of the accompanying alludes to 'an instrument recorded as a hard copy (not being a monetary certificate or a cash note) containing unlimited endeavour, endorsed by the producer to pay on request or at a fixed or definable future time a specific amount of cash just to or to the request for someone in particular, or the carrier of the instrument'?