General Knowledge · General Awareness
Under Section 131 of the Negotiable Instruments Act, which of the following is NOT a required statutory condition for a collecting banker to claim protection?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The banker must have verified the physical authenticity of the signature of the drawer at the time of deposit.✓
- 2The instrument must be a cheque that is already crossed before it reached the bank.
- 3The banker must have received the payment for a customer.
- 4The banker must have acted in good faith and without negligence.
Correct answer
The banker must have verified the physical authenticity of the signature of the drawer at the time of deposit.
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