LL.B. (Three Years) Sem 6 Law of Banking and Negotiable Instruments Nov 2010 Question Paper - Mumbai University | munotes

Questions asked in this paper

• N.B: Figures to the right indicate full marks assigned to the questions.

SECTION I - Q.1: Answer the following (20 Marks - 2 marks each)

1. Q1 What is an "Ambiguous Instrument"?
2. Q2 Who is a "holder" as defined in the Negotiable Instrument Act?
3. Q3 What is the Garnishee Order?
4. Q4 What is a negotiation?
5. Q5 Which are the instruments payable on demand?
6. Q6 What is the definition of "Bankers Books" under the Bankers Books Evidence Act 1891?
7. Q7 What is the definition of "debt" under the "Recovery of debts due to the banks and Financial Institutions Act 1993"?
8. Q8 What is the definition of "Rupee Coin" under the Reserve Bank of India Act, 1934?
9. Q9 What is the capital of Reserve Bank and who holds it?
10. Q10 What is the definition of "Banking Policy" under the Banking Regulation Act, 1949?

SECTION II - Q.2: Write short notes on any four (20 Marks - 5 marks each)

1. Q11 Accommodation bills.
2. Q12 Holder in due course.
3. Q13 Bill in sets.
4. Q14 Reserve fund of the banking company.
5. Q15 Debt Recovery Tribunals.
6. Q16 Reserve Bank Lender of the last resort.

SECTION III - Q.3: Answer the following by giving reasons, any two (12 Marks - 6 marks each)

1. Q17 Analyse the following under relevant provisions of the Banking Regulation Act: (i) A banking company commences its business and its subscribed capital is less than half of the authorised capital. (ii) Can a banking company deal in buying or selling or bartering the goods in addition to the business of banking? (iii) Can a banking company create any charge upon any of its unpaid capital?
2. Q18 State giving reasons whether the drawee bank is justified in refusing the payment of a cheque? (i) The cheque is dated 01-05-2010 and is presented for payment on 01-04-2010. (ii) The cheque is dated 01-01-2009 and presented for payment on 13-07-2009. (iii) The amount of the cheque is stated in words as Rs. four hundred only whereas in figures as Rs. 40/- only.

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