Which of the following statement is correct:

Important Questions on Banking Law and Practice

HARD

Bihar Cooperative Bank Assistant Mains

IMPORTANT

Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 2

With endorsement on a cheque by the payee (a) his liability is equal to that of a principal debtor (b) the endorsee gets the rights of a creditor (c) endorsee becomes a holder in due course (d) endorsee can endorse it further. Which of the following combination not correct:

HARD

Bihar Cooperative Bank Assistant Mains

IMPORTANT

Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 3

Mr. Dharmvir has given a power of attorney to Mr. Ashok Kumar for the operation of accounts and dealing with negotiable instruments drawn in favor of Mr. Dharmvir. What will be the correct endorsement by Mr. Ashok Kumar among the following:

HARD

Bihar Cooperative Bank Assistant Mains

IMPORTANT

Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 4

You receive a cheque for payment from the account of your customer Arun, but it is endorsed with a pencil. The endorsement is otherwise regular. You will consider it:

MEDIUM

Bihar Cooperative Bank Assistant Mains

IMPORTANT

Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 5

Z endorsed a cheque in the blank, in favor of B who negotiates it in favor of C, and C transferred it to D without endorsement. In the event of dishonor of the cheque:

HARD

Bihar Cooperative Bank Assistant Mains

IMPORTANT

Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 6

A payee of a cheque of $Rs.10000$ endorses the cheque for $Rs.6000$ in favor of his elder son and $Rs.4000$ in favor of his younger son. Endorsement of an instrument transferring the amount to more than one endorsees separately shall be;

MEDIUM

Bihar Cooperative Bank Assistant Mains

IMPORTANT

Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 7

Which of the following types of a cheque can be endorsed?
 

HARD

Bihar Cooperative Bank Assistant Mains

IMPORTANT

Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 8

X issues a cheque favouring Y with a condition that the payment is to be made when Y fulfils a condition. Y obtains the payment from the bank without satisfying the condition. X demands damages from the bank for not ensuring compliance:

EASY

Bihar Cooperative Bank Assistant Mains

IMPORTANT

Hand Book Of Banking Information>Chapter 4 - Banking Law and Practice>TEST YOUR SELF>Q 9

If a holder (the endorser) of a cheque destroys the endorsed remedy without his consent, the endorser is discharged of his liability towards the endorsed. The statement is _____.