Question

The Negotiable Instrument Act is applicable to

• A. the entire country of India
• B. only the state of Maharashtra
• C. only rural areas of India
• D. only the financial institutions in India

Answer 1

Answer:

A. the entire country of India

NEGOTIABLE INSTRUMENT:

• The Negotiable Instrument Act : 1881 

• The NI Act was passed on : 9 Dec 1881 

• The NI Act was called : Act No 26

• The NI Act was came into force on : 1st March 1882

• There are 148 sections in NI Act (Sec - 148 added in 2018)

• NI Act is applicable to the entire Country of India