Module: | Negotiable Instruments & Basics
Q1: Under Section 6 of the Negotiable Instruments Act, 1881, a cheque is defined as a bill of exchange drawn on a specified banker and is expressly characterized by which of the following features?
✅ Correct Answer: B
A cheque is defined as a bill of exchange drawn on a specified banker and payable on demand.
This distinguishes it from other bills of exchange which may be payable after a fixed period.
This distinguishes it from other bills of exchange which may be payable after a fixed period.