Question

The Section of the NI Act, which deals with a bank draft

• A. 83
• B. 81
• C. 85A
• D. 84B

Answer 1

Answer:

C. 85A

Demand Draft or Bank Draft:

• Sec 85A of the NI Act, a bank draft is an order from one branch to another branch of the same bank to pay a specific sum of money on demand to the person named there in his order. 

Three parties:

• Drawer 

• Drawee 

• The Payee 

(3 months - Negotiable)