Mumbai University Solved Question Papers
Law of Banking and Negotiable Instruments
Previous Year Question Paper with Solution
BLS LLB 5 Years · Sem 10
May 2012 Examination
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BLS LLB 5 Years Sem 10 Law of Banking and Negotiable Instruments May 2012 Question Paper with Solutions
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First published on munotes.in on 24 October 2026.
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Model answers written and edited by the munotes.in editorial desk.
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The question paper reproduced here is the paper as set by the University of Mumbai at the May 2012 examination.
Contents
The questions below are the paper as the University of Mumbai set it at the May 2012 examination, in the order it was set.
MarksPage
MarksPage
The Paper as Set
The questions in this volume are the questions asked at the May 2012 examination, reproduced as the University of Mumbai set them, in the order it set them. Nothing has been reworded, added or left out. Only the answers are ours. See the original question paper.
Duration 3 hours · Total marks 100 · 25 questions answered
How to use this volume
Solve the paper first, under exam conditions and against the clock. Then read the answers here and mark your own. Reading a solution before attempting the question feels productive and teaches very little, because recognising an answer is not the same as being able to write one.
Q.1
Q.1: Answer the following
20 Marks - 2 marks each
(a)What is endorsement of a Negotiable Instrument?[2]
Answer
Definition. Section 15 of the Negotiable Instruments Act, 1881 defines it. When the maker or holder of a negotiable instrument "signs the same, otherwise than as such maker, for the purpose of negotiation, on the back or face thereof or on a slip of paper annexed thereto", he is said to indorse it. He is called the indorser. The person to whom it is indorsed is the indorsee (section 16).
Its elements.
- A signature by the maker or holder.
- Made for the purpose of negotiation, that is, to transfer the instrument.
- On the back or face of the instrument, or on a slip attached to it, called an allonge.
- Followed by delivery (section 46).
Its effect. An indorsement followed by delivery passes the property in the instrument to the indorsee, with the right to negotiate it further (section 50). Order instruments are negotiated by indorsement and delivery (section 48).
Two main forms (section 16).
- In blank: the indorser signs his name only, making the instrument payable to bearer (section 54).
- In full: he adds a direction to pay a named person, for example "Pay Meena or order".
The indorser's liability. He must compensate later holders if the instrument is dishonoured, on due notice (section 35).
Conclusion. An indorsement is the holder's signature on a negotiable instrument, made to negotiate it; with delivery it passes the instrument to the indorsee.
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