New 👉 Ask your RBI Grade B 2025 Preparation Queries Here!!

    Register

    Question

    An acceptor or indorser of negotiable instrument is

    bound by his acceptance or indorsement
    A Under all circumstances Correct Answer Incorrect Answer
    B But not to the holder in due course Correct Answer Incorrect Answer
    C Despite any previous alterations of the instrument Correct Answer Incorrect Answer
    D Despite any previous or subsequent alterations of the instrument Correct Answer Incorrect Answer

    Solution

    Section 88 of NI Act: Acceptor or indorser bound notwithstanding previous alteration—An acceptor or indorser of a negotiable instrument is bound by his acceptance or indorsement notwithstanding any previous alteration of the instrument.

    Practice Next