LL.B. (Three Years) Sem 6 Law of Banking and Negotiable Instruments May 2015 Question Paper - Mumbai University | munotes

Questions asked in this paper

SECTION I - Q.1: Answer the following in not more than two sentences (20 Marks - 2 marks each)

1. Q1 Explain the term 'Order Nisi'?
2. Q2 What is an "ambigious instrument"?
3. Q3 What is noting and who does it?
4. Q4 Explain Endorsement in blank?
5. Q5 What is "Bank Rate" as per RBI Act, 1934?
6. Q6 What are the assets of the issue department of the Reserve Bank?
7. Q7 What is "Legal Proceeding" under the Bankers' Books Evidence Act, 1891?
8. Q8 What is the qualification for appointment as "Presiding officer" of a Tribunal under Recovery of Debts due to Bank and Financial Institution Act, 1993?
9. Q9 What is the definition of "unclaimed deposits" under the Banking Regulation Act, 1949.
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 RBI as a banker and adviser to the government.
2. Q12 Bankers Book Evidence Act, 1891.
3. Q13 Regulation of managerial structure of banking companies under Banking Regulation Act, 1949.
4. Q14 Debt Recovery Tribunal.
5. Q15 Holder in due course.
6. Q16 Maturity of Promissory Note and Bill of Exchange and Calculation thereof.

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

1. Q17 State whether the following are promissory notes or not and give reasons: (i) I promise to pay 'B' Rs. 500 and to deliver to him my black horse on 1st March next. (ii) I promise to pay to 'B' Rs. 500 on D's death, provided D leaves me a life interest in his property. (iii) I ackowledge myself to be indebted to B in Rs. 2000 to paid on demand, for value received.
2. Q18 On 01-03-2010, a customer 'A' keeps a fixed deposit of Rs. 50 lakh in a bank in his own name for a period of five years and nominates 'B' as his nominee who is not related to him. A dies on 25-01-2014 and 'B' claims the deposit. 'C' the nephew of 'A' also claims the deposit under a will which has not been probated. (i) What are the provisions under the Banking Regulation Act, 1949 regarding nomination for payment of depositors money. (ii) How should the bank deal with the claims of 'B' and 'C'?
3. Q19 Whether the Bank is justified in refusing the payment of a cheque in the following conditions. Give reasons: (i) A cheque is issued on an account by 'A' on the funds of this account the bank has a set off against a loan taken by 'A'. (ii) A cheque is issued on the 21-01-2014 and is presented to the bank for payment on 21-5-2014. (iii) 'ABC' Bank receives a cheque dated 22-12-14 drawn by 'D' the cheque is presented for payment on 22-01-2015, the bank has been notified of the lunacy of 'D' as on 26-12-14.

SECTION IV - Q.4: Answer the following, any four (48 Marks - 12 marks each)

1. Q20 What are the various presumptions as to Negotiable Instruments as to special rules of evidence.
2. Q21 What is crossing of a cheque? Explain the various types of crossings along with their effects.
3. Q22 Briefly discuss the provision of Banking Regulation Act, 1949 relating to: (i) Licensing of banking companies and their branches. (ii) Licensing of Co-operative (Urban) banks and their branches.
4. Q23 Discuss various provisions of Reserve Bank of India Act, 1934 and Banking Regulation Act 1949 relating to maintenance of Cash Reserve Ratio (CRR) and statutory liquid ratio (SLR).
5. Q24 What are the core functions of Reserve Bank as a central Bank of India?
6. Q25 Explain powers and functions of SEBI.

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