COURSE : BUSINESS LAW AND TAX

Under the provisions of the Negotiable Instruments Act, 1881 explain different types

of negotiable instruments . (04)

(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.