LL.B. (Three Years) Sem 6 Law of Banking and Negotiable Instruments 2018-19 Question Paper - Mumbai University | munotes

Questions asked in this paper

• N.B: 1. All questions are compulsory. 2. Figures to the right indicate full marks.

SECTION I - Q.1: Answer in one or two sentences (20 Marks - 2 marks each)

1. Q1 Define a Bill of Exchange.
2. Q2 What is truncated cheque?
3. Q3 Who is a "holder in due course" under N.I. Act?
4. Q4 What is Negotiation under N.I. Act?
5. Q5 What are cheques specially crossed?
6. Q6 What is the period and extended period for which a banking company can hold immovable property under B.R. Act?
7. Q7 Name any two forms of business which a banking company may undertake in addition to the banking business?
8. Q8 What are the assets of the issue department of the RBI?
9. Q9 What is contained in the third schedule of the RBI Act?
10. Q10 Define "Bankers' Book" under The Banker's Books Evidence Act?

SECTION II - Q.2: Short notes, any four (20 Marks - 5 marks each)

1. Q11 SEBI.
2. Q12 DRT.
3. Q13 Inchoate stamped instrument.
4. Q14 Assets and Liabilities of Issue Department.
5. Q15 Presumption as to negotiable Instruments.
6. Q16 Different types of crossing cheques.

SECTION III - Q.3: Attempt any two of the following (12 Marks - 6 marks each)

1. Q17 Draft the format of the following (Assume the facts): (i) Promissory Note (ii) Bill of Exchange.
2. Q18 State with reason whether the following instruments are inland instruments or foreign instruments: (i) A Bill drawn in Dubai upon a merchant in Florida and accepted payable in Florida. (ii) A Bill drawn in Mumbai on a merchant in Karnataka but endorsed in Switzerland. (iii) A Bill drawn in Mumbai on a merchant in Karnataka and accepted payable in Switzerland.
3. Q19 Whether the Bank is justified in refusing the payment of a cheque in the following conditions. Give reasons. (i) A cheque is dated 01.03.2018 and presented for payment on 25.02.18. (ii) A cheque is dated 01.03.201 and presented as for payment on 01.07.2018. (iii) The amount of the cheque written in words as Rs. Five lakhs only whereas in figures Rs.50,000/-.

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

1. Q20 Compare and contrast Promissory Note, Bill of Exchange and Cheque.
2. Q21 Discuss the provisions under Sec. 138 of the N.I. Act. With regard to the procedure for filing a case for Dishonour of a Cheque.
3. Q22 Discuss various Powers and Functions of the RBI under Sec 17 and 19 of the RBI Act.
4. Q23 Explain the forms of business in which a Banking Company may engage in under the provisions of Banking Regulations Act 1949 (Sec 6).
5. Q24 Crossing of cheques under N.I. Act.
6. Q25 Composition, Management of Central Bank and local Boards of RBI.

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