) Under the provisions of the Negotiable Instruments Act, 1881 identify the type of each of the following instruments and give reason(s) as to validity of each instrument. (i) I promise to pay Zahid Rs. 350,000 and all the applicable interest amounts. (ii) Pay Rs. 350,000 to Jafer along with interest of Rs. 3,500. (iii) I hereby acknowledge that I have taken Rs. 350,000 from Abid and shall pay the interest to him on the amount at agreed interest rate
) Under the provisions of the Negotiable Instruments Act, 1881 identify the type of each of the following instruments and give reason(s) as to validity of each instrument. (i) I promise to pay Zahid Rs. 350,000 and all the applicable interest amounts. (ii) Pay Rs. 350,000 to Jafer along with interest of Rs. 3,500. (iii) I hereby acknowledge that I have taken Rs. 350,000 from Abid and shall pay the interest to him on the amount at agreed interest rate
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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(b) Under the provisions of the Negotiable Instruments Act, 1881 identify the type of
each of the following instruments and give reason(s) as to validity of each instrument.
(i) I promise to pay Zahid Rs. 350,000 and all the applicable interest amounts.
(ii) Pay Rs. 350,000 to Jafer along with interest of Rs. 3,500.
(iii) I hereby acknowledge that I have taken Rs. 350,000 from Abid and shall pay
the interest to him on the amount at agreed interest rate
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