Various Negotiable Instruments

36. Which of the following is not a type of bill of exchange?

a) Promissory bill

b) Sight bill

c) Usance bill

d) Time bill

37. The drawer of a bill of exchange is the:

a) Holder of the instrument

b) Payee of the instrument

c) Maker of the instrument

d) Drawee of the instrument

38. A bill of exchange can be drawn on:

a) Any person

b) Only banks

c) Only companies

d) Only government institutions

39. A bearer cheque can be transferred by:

a) Delivery

b) Endorsement

c) Online transfer

d) Direct debit

40. Which of the following is not a type of endorsement?

a) General endorsement

b) Special endorsement

c) Conditional endorsement

d) Qualified endorsement