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  • Legal and Regulatory Aspects of Bank (JAIIB)- 5
  • Individual borrowers are governed by
Multiple choice

Individual borrowers are governed by

  1. Negotiable Instrument Act

  2. Limited Liability Partnership Act

  3. Indian Contract Act

  4. None of these

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The laws applicable to different kind of borrowers are different. Individuals are governed by the Indian Contract Act and partnership firms under partnership Act.

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