Law · Banking Law and Negotiable Instruments Act
Regarding 'Acceptance for Honour' of a bill of exchange under the Negotiable Instruments Act: Statement I: It must be written on the bill and specify for whose honour it is made; if not specified, it is deemed to be for the honour of the drawer. Statement II: An acceptor for honour becomes primarily liable and must be sued before the original drawee. Statement III: The person undertakes to pay if the original drawee does not pay at maturity, provided it is again protested for non-payment. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1I, II and III
- 2Only I and III✓
- 3Only I and II
- 4Only I
Correct answer
Only I and III
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Law?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Banking Law and Negotiable Instruments Act MCQs →Want more practice questions on Banking Law and Negotiable Instruments Act?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Law · Banking Law and Negotiable Instruments Act