Question

Which of the following is not a Negotiable Instrument as defined under The Negotiable Instrument Act, 1881?

• A. Promissory Note
• B. Bill of Exchange
• C. Cheque
• D. Billing Receipt

Hint:

A Billing Receipt is not a negotiable instrument under The Negotiable Instruments Act, 1881.

Answer 1

The Correct Option is D

Step 1: Understanding the Question.
Under The Negotiable Instruments Act, 1881, negotiable instruments include promissory notes, bills of exchange, and cheques. These instruments can be transferred from one person to another, and the holder has the right to enforce them. A billing receipt does not fall under the category of negotiable instruments.
Step 2: Analysis of Options.
- (A) Promissory Note: This is a negotiable instrument as defined under the Act.
- (B) Bill of Exchange: This is also a negotiable instrument as per the Act.
- (C) Cheque: A cheque is a type of negotiable instrument under the Act.
- (D) Billing Receipt: This is not a negotiable instrument, as it is simply a receipt for goods or services.
Step 3: Conclusion.
Thus, the correct answer is (D) Billing Receipt.