Multiple choice

Which of the following presumptions regarding negotiable instruments is not correct?

  1. Every negotiable instrument bearing a date was made or drawn on such date.

  2. Every transfer of a negotiable instrument was made before its maturity.

  3. A lost promissory note, bill of exchange or cheque was not duly stamped.

  4. Every accepted bill of exchange was accepted within a reasonable time after its date and before its maturity.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Presumptions regarding negotiable instruments are a lost promissory note, bill of exchange or cheque was duly stamped.

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