Banking · Loan Documentation and Legal Framework
Consider the following statements regarding loan documentation in banking: Statement I: A loan agreement executed on an adhesive stamp must be cancelled by the person signing it to prevent the stamp from being reused. Statement II: If a company's Board Resolution authorizes two directors to sign jointly, the bank can accept a single signature if the director is the Managing Director. Statement III: Under the Bankers' Books Evidence Act, certified copies of entries in a bank's books are admissible as evidence in legal proceedings. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1I, II and III
- 2Only I and III✓
- 3Only I and II
- 4Only I
Correct answer
Only I and III
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