KG2PG

Q1: 1. In the context of Section 88 of the Negotiable Instruments Act 1881, an acceptor or indorser is bound by the terms of a negotiable instrument

Q2: 2. If a promissory note is altered after being signed by the maker, who among the following parties would still be bound by the original terms?

Q3: 3. What is the significance of Section 88 in the context of negotiable instruments?

Q4: 4. A cheque is issued by a company to a supplier for payment. If the amount on the cheque is altered fraudulently, who would still be liable for the original amount under Section 88?

Q5: 5. Under Section 88 of the Negotiable Instruments Act 1881, what happens if an indorser of a bill of exchange is not aware of any alterations made to the instrument?

Q6: 6. If a cheque is altered to increase the amount payable, who would be responsible for the additional amount under Section 88?

Q7: 7. In a scenario where a promissory note is altered without the knowledge of the acceptor, who bears the responsibility for the altered terms according to Section 88?

Q8: 8. If a cheque is altered by changing the date of payment, who would still be bound by the original date under Section 88?

Q9: 9. Under Section 88, what is the primary purpose of holding the acceptor or indorser liable despite any alterations to the negotiable instrument?

Q10: 10. If a bill of exchange is altered in a way that benefits the acceptor, who would bear the responsibility for the alteration under Section 88?

Q11: 11. What recourse does an acceptor or indorser have if they discover alterations made to a negotiable instrument after they have accepted or indorsed it?

Q12: 12. In a situation where a cheque is altered by changing the name of the payee, who remains obligated to make the payment according to Section 88?

Q13: 13. If a promissory note is altered in a way that makes it invalid, who would still be bound by the original terms under Section 88?

Q14: 14. What steps can a party take to protect themselves from liability in case of alterations to negotiable instruments under Section 88?

Q15: 15. How does Section 88 of the Negotiable Instruments Act 1881 affect the responsibilities of the acceptor or indorser in case of alterations?

Q16: 16. In a scenario where a bill of exchange is altered to extend the payment deadline, who would still be bound by the original due date under Section 88?

Q17: 17. If a cheque is altered by changing the amount payable to a higher sum, who would be responsible for the additional amount according to Section 88?

Q18: 18. What protections does Section 88 provide to parties involved in negotiable instruments in case of alterations?

Q19: 19. If a promissory note is altered in a way that benefits the endorser, who would be liable for the alterations under Section 88?

Q20: 20. How does Section 88 of the Negotiable Instruments Act 1881 impact the enforceability of altered negotiable instruments?

Q21: 21. In a case where a bill of exchange is altered by changing the currency denomination, who would still be bound by the original currency specified under Section 88?

Q22: 22. If a cheque is altered by changing the wording of the payment amount, who would be responsible for the altered amount under Section 88?

Q23: 23. What measures can parties take to prevent unauthorized alterations to negotiable instruments under Section 88?

Q24: 24. If a promissory note is altered in a way that benefits the payee, who would bear the responsibility for the alterations under Section 88?

Q25: 25. How does Section 88 of the Negotiable Instruments Act 1881 contribute to the stability and reliability of negotiable instruments?

Score Summary