LL.B. (Three Years) Sem 6 Law of Banking and Negotiable Instruments May 2023 Question Paper - Mumbai University | munotes

Questions asked in this paper

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

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

1. Q1 What is the meaning of crossing of cheques?
2. Q2 What is the period and the extended period for which a banking company can hold immovable property?
3. Q3 What is "Repo"?
4. Q4 Define a 'Bill of exchange'?
5. Q5 What is "Banking Policy"?
6. Q6 What is the capital of the Reserve Bank of India?
7. Q7 Who is "acceptor for honour"?
8. Q8 What is a Scheduled Bank?
9. Q9 What is an inchoate stamped instrument?
10. Q10 What is an Inland and Foreign Instrument?

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

1. Q11 Types of indoresement.
2. Q12 The Debt Recovery Tribunal (DRT).
3. Q13 Central Board.
4. Q14 Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR).
5. Q15 Maturity and days of grace.
6. Q16 Dishonour of a Negotiable instrument.

SECTION III - Q.3: Answer with reasons, any two (12 Marks - 6 marks each)

1. Q17 State with reasons, whether the following instruments are promissory notes: (a) "I promise to pay Mr. B a sum of Rupees One Thousand Only" (b) "I promise to pay Mr. B a sum of Rupees One Thousand Only whenever possible" (c) "I promise to pay Mr. B whatever amounts that may be due to him".
2. Q18 A cheque of Rs.50,000,000/- (Rupees five Crores Only), issued on 5th January, 2023 was dishonoured and returned by the Bank on 5th February, 2023 for insufficiency of funds. A complaint is to be filed under Sec. 138. (a) In which court will the complaint be filed? (b) Within how many days should the notice be sent? (c) Within how many days does the complaint have to be filed and state the penal provision?
3. Q19 A banking company has acquired immovable property in satisfaction of its claims. What are the provisions of the Banking Regulation Act regarding holding or disposing off such property?

SECTION IV - Q.4: Long answer type questions, answer any four (48 Marks - 12 marks each)

1. Q20 Discuss the forms of business in which a banking company may engage.
2. Q21 Discuss the provisions of the Negotiable Instruments Act with reference to Dishonor of Cheque.
3. Q22 Who is "holder" and "holder in due course"? What are the privileges of a holder in due course?
4. Q23 Discuss the various powers and functions of The Reserve Bank of India.
5. Q24 What are the provisions of the Banking Regulation Act regarding licensing of banking companies and opening of new places of business?
6. Q25 What is the composition of the Central Board and the Local Boards under the RBI Act?

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