N. S. Toor Solutions for Chapter: Loan Policy and Loan Documentation, Exercise 18: TEST YOUR SELF

A document can be defined as_____.

The resolution to raise a loan from a bank in a company should be passed:

A term loan agreement was signed by the borrower but stamp duty paid on the agreement was not adequate. The stamp duty can be made up subsequently, with the permission of:

In case documents have been executed outside India, the documents must be presented for registration before the Registrar of Assurances, after their receipt in India, within:

If the written acknowledgement is not properly stamped:

A bank decides to allow a term loan of Rs. 10 lac to a partnership firm with a minor admitted to the benefit. How the bank will get the documents signed, so far minor is concerned?

Rural Bank granted a loan for the purchase of a tractor in the name of Mr. Santa Singh and Banta Singh. The tractor is registered in the name of only Banta Singh. Due to non¬payment of the loan when a suit was filed Mr. Santa Singh denied his liability stating that he did not receive any consideration and the tractor is not registered in his name:

Union Bank sanctioned working capital credit limits of Rs.30 lac to an SSI unit headed by the proprietor Mr. Jaish Lal. Due to sudden program of Mr. Jaish Lal for a visit abroad, he executed a power of attorney in favour of his minor son to execute the documents, who comes to the branch for that purpose: