Which of the following statements correctly describe the legal distinction between Bearer Cheques and Order Cheques? I. A Bearer Cheque is payable to the bearer and can be encashed by anyone presenting it. II. An Order Cheque is payable to a specified person or their order. III. A Bearer Cheque restricts payment exclusively to a specified individual. IV. An Order Cheque can be encashed by anyone simply in possession of it. Choose the most appropriate answer from the options given below:

Given below are two statements: one is labelled as Assertion A and the other is labelled as Reason R. Assertion A: A Protest certificate strengthens the holder's position in legal proceedings and is often required for foreign bills of exchange to be eligible for recourse. Reason R: The Notary Public formally declares the dishonor of the instrument and records the details in a protest certificate, which serves as conclusive evidence of dishonor. In the light of the above statements, choose the most appropriate answer from the options given below:

Given below are two statements: one is labelled as Assertion A and the other is labelled as Reason R. Assertion A: The process of Noting automatically discharges the negotiable instrument and frees the drawer from any liability to compensate the holder. Reason R: Noting is a process where a Notary Public or authorized official officially records the factual details of a negotiable instrument's dishonor. In the light of the above statements, choose the most appropriate answer from the options given below: