Q1: 1. What does the term "at sight" mean in the Negotiable Instruments Act 1881?

• A) A) The payment is due immediately upon presentment
• B) B) The payment is due within 10 days
• C) C) The payment is due within 30 days
• D) D) The payment is due within 90 days

Q2: 2. A cheque is marked "payable at sight." When should the payee expect to receive the payment?

• A) A) Within 24 hours
• B) B) Within 7 days
• C) C) Upon presentment
• D) D) After 30 days

Q3: 3. If a bill is drawn "at sight," when must the drawee make the payment?

• A) A) Within 24 hours
• B) B) Immediately upon presentment
• C) C) Within 10 days
• D) D) Within 90 days

Q4: 4. A promissory note states "payable at sight." What does this indicate?

• A) A) Payment is due within 7 days
• B) B) Payment is due immediately upon presentment
• C) C) Payment is due within 30 days
• D) D) Payment is due within 60 days

Q5: 5. In a real-life scenario, if a cheque is issued with "at sight" mentioned, how long does the payee have to present it for payment?

• A) A) Within 24 hours
• B) B) Within 3 days
• C) C) Within 7 days
• D) D) Within 10 days

Q6: 6. What is the significance of specifying "at sight" in a negotiable instrument?

• A) A) It allows for delayed payment
• B) B) It ensures immediate payment upon presentment
• C) C) It provides a grace period of 30 days
• D) D) It extends the payment deadline to 90 days

Q7: 7. If a bill marked "at sight" is presented to the drawee, when is the payment legally due?

• A) A) Within 7 days
• B) B) Immediately upon presentment
• C) C) Within 30 days
• D) D) Within 60 days

Q8: 8. When a promissory note states "payable at sight," what action should the payee take to receive payment?

• A) A) Wait for 10 days before presenting it
• B) B) Present the note for payment without delay
• C) C) Wait for 30 days before presenting it
• D) D) Extend the payment deadline to 90 days

Q9: 9. If a cheque mentions "payable at sight," which of the following statements is true?

• A) A) The payee has 30 days to present it for payment
• B) B) The payment is due within 24 hours
• C) C) The payment must be made within 10 days
• D) D) The payment can be delayed up to 90 days

Q10: 10. In a real-life situation, if a promissory note is marked "payable at sight," what should the holder of the note do?

• A) A) Wait for 30 days to present it
• B) B) Present the note for immediate payment
• C) C) Extend the payment deadline to 60 days
• D) D) Wait for 90 days before presenting it

Q11: 11. How does the term "at sight" impact the timeline for payment in a negotiable instrument?

• A) A) It delays the payment by 30 days
• B) B) It accelerates the payment upon presentment
• C) C) It allows for a payment window of 60 days
• D) D) It extends the payment deadline to 90 days

Q12: 12. If a bill is drawn "at sight," what is the expected timeframe for the drawee to make the payment?

• A) A) Within 7 days
• B) B) Immediately upon presentment
• C) C) Within 30 days
• D) D) Within 60 days

Q13: 13. When a cheque is marked "payable at sight," what does this mean for the payee?

• A) A) The payment is due within 24 hours
• B) B) The payment is due within 10 days
• C) C) The payment is due within 30 days
• D) D) The payment is due within 90 days

Q14: 14. In practice, if a promissory note states "payable at sight," what action should the holder take to claim the payment?

• A) A) Wait for 10 days before presenting it
• B) B) Present the note immediately for payment
• C) C) Wait for 30 days before presenting it
• D) D) Extend the payment deadline to 60 days

Q15: 15. A negotiable instrument marked "at sight" implies that

• A) A) Payment is due within 7 days
• B) B) Payment is due immediately upon presentment
• C) C) Payment is due within 30 days
• D) D) Payment is due within 60 days

Q16: 16. If a cheque specifies "payable at sight," how soon should the payee present it for payment?

• A) A) Within 24 hours
• B) B) Within 3 days
• C) C) Within 7 days
• D) D) Within 10 days

Q17: 17. When a bill is drawn "at sight," what is the payment expectation for the drawee?

• A) A) Within 7 days
• B) B) Immediately upon presentment
• C) C) Within 30 days
• D) D) Within 60 days

Q18: 18. The term "at sight" in a promissory note signifies that

• A) A) Payment can be delayed for 30 days
• B) B) Payment is due within 24 hours
• C) C) Payment must be made within 10 days
• D) D) Payment is extended to 90 days

Q19: 19. In a real-life scenario, if a cheque is marked "payable at sight," what is the appropriate action for the payee?

• A) A) Wait for 3 days before presenting it
• B) B) Present the cheque for payment without delay
• C) C) Wait for 30 days before presenting it
• D) D) Extend the payment deadline to 60 days

Q20: 20. When a negotiable instrument includes the term "at sight," what does this indicate about the payment timeline?

• A) A) It allows for a 30-day grace period
• B) B) It requires immediate payment upon presentment
• C) C) It extends the payment deadline to 60 days
• D) D) It delays the payment by 90 days

Q21: 21. If a bill is drawn "at sight," what is the legal obligation of the drawee regarding payment?

• A) A) Within 7 days
• B) B) Immediately upon presentment
• C) C) Within 30 days
• D) D) Within 60 days

Q22: 22. What is the significance of specifying "at sight" in a negotiable instrument in terms of payment?

• A) A) It allows for delayed payment of 30 days
• B) B) It ensures immediate payment upon presentment
• C) C) It provides a payment window of 60 days
• D) D) It extends the payment deadline to 90 days

Q23: 23. If a promissory note states "payable at sight," what action should the payee take to receive the payment?

• A) A) Wait for 10 days before presenting it
• B) B) Present the note for immediate payment
• C) C) Wait for 30 days before presenting it
• D) D) Extend the payment deadline to 90 days

Q24: 24. When a cheque is labeled "payable at sight," what is the implication for the payee?

• A) A) The payment is due within 24 hours
• B) B) The payment is due within 10 days
• C) C) The payment is due within 30 days
• D) D) The payment is due within 90 days

Q25: 25. In a practical situation, if a promissory note is marked "payable at sight," what should the holder do to claim the payment?

• A) A) Wait for 30 days before presenting it
• B) B) Present the note for immediate payment
• C) C) Extend the payment deadline to 60 days
• D) D) Wait for 90 days before presenting it