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.

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

1. (a) What is an "Ambiguous Instrument"?
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2. (b) Who is a "holder" as defined in the Negotiable Instrument Act?
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3. (c) What is the Garnishee Order?
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4. (d) What is a negotiation?
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5. (e) Which are the instruments payable on demand?
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6. (f) What is the definition of "Bankers Books" under the Bankers Books Evidence Act 1891?
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7. (g) What is the definition of "debt" under the "Recovery of debts due to the banks and Financial Institutions Act 1993"?
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8. (h) What is the definition of "Rupee Coin" under the Reserve Bank of India Act, 1934?
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9. (i) What is the capital of Reserve Bank and who holds it?
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10. (j) What is the definition of "Banking Policy" under the Banking Regulation Act, 1949?
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Q.2 Q.2: Write short notes on any four (20 Marks - 5 marks each)

1. (a) Accommodation bills.
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2. (b) Holder in due course.
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3. (c) Bill in sets.
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4. (d) Reserve fund of the banking company.
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5. (e) Debt Recovery Tribunals.
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6. (f) Reserve Bank Lender of the last resort.
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Q.3 Q.3: Answer the following by giving reasons, any two (12 Marks - 6 marks each)

1. (a) 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?
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2. (b) 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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