NI Act_Practicle Problems_54

State whether a holder can refuse to take the following acceptance or not:

a. Accepted payable when in funds.

b. Accepted payable when a cargo consigned to me is sold.

c. A bill drawn for Rs 5,000 but accepted for the 4,000 only.

d. Accepted payable at Delhi when no place of payment is specified in the order.

e. Accepted payable at Delhi only when no place of payment is specified in the order.

f. Accepted payable at Delhi when place of payment specified in the order was Bombay.

g. A bill drawn payable three months after date but accepted payable two months after date.

h. A bill drawn on X, Y, and Z (who are not partners) but accepted by X only.A bill drawn on X, Y and Z (who are partners) but accepted by X.

NI Act_Practicle Problems_53

Find out date of maturity in the following cases under NI Act :

a. A bill dated 1st January 1993 is made payable four months after date.

b. A bill, dated 30th January 1993, is made payable one month after date.

c. A bill, dated 31st July, 1993, is made payable two months after date.

d. A bill dated 1st January 1993 is payable 60 days after date.

e. A bill is payable on 28th February 1993.

f. A bill is payable thirty days after sight is presented for sight on 1st March, 1993.

g. A bill, dated 15 January, 1993, is payable three months after date.