N. S. Toor Solutions for Chapter: Banking Law and Practice, Exercise 4: TEST YOUR SELF

A has received an order cheque which bears a forged endorsement in his favour. The cheque was originally issued in favour of Mr.X who endorsed in favour of Y but Y had misplaced it and Z who found this cheque endorsed it in favour of A by forgings X’s signature. The holder of cheque will be?

Holder in due course is defined u/s _____ of NI Act.

Endorsee of a forged cheque is deemed, to be holder in due course, if he has obtained the instrument for value, lawful consideration and good faith?

The holder of a cheque is holder in due course if (a) he has right of possession (b) he receives instrument for lawful consideration (c) the instrument in his possession. Which of these should be satisfied?
 

A customer tenders to a bank an outstation cheque of $Rs.10000$ for collection. He requests for instant credit, to which bank agrees. What would be bank be called?

Who among the following is only a holder and not a 'holder' in due course?

If $\mathrm{X}$ is the payee of a cheque and cheque is misplaced, $\mathrm{X}$ is the only holder and not holder in due course.

Holder id defined u/s _____ of NI Act.