out the type of instrument and the reason? (a) A bill is drawn payable to X or bearer (b) Bill drawn in London upon a merchant in Chennai and accepted and payable in Bangalore (c) Bill drawn in Delhi upon a merchant in London and accepted and payable in London (d) Bill drawn in London on a merchant in Agra and endorsed in Delhi (e) A Bill drawn by Bajaj Auto Agent on Bajaj Auto Ltd. (f) Bill drawn by A on Y (an imaginary person not in existence) and endorsed to B (g) X gives a blank cheque to Y or gives undated cheque to Y (h) X signs stamped and blank promissory note and keep it locked in his drawer II. Find out which of the following is a promissory note?
(i) X promises to pay a sum of Rs. on telephone. (ii) Mr. Y, I owe you Rs.
(iii) I promise to pay Y Rs. + some other charge (iv) I promise to pay Y Rs. on Z’s death (v) I promise to pay Y (myself) Rs. (vi) I promise to pay Y Rs.
and to deliver to him my black horse on first January next. Clues: Answer should be given after reading the characteristics of Promissory note III. Classify the following endorsement with reasons (i) No other words except B’s signature (ii) Pay C (iii) Pay C or order (iv) Pay C only (v) Pay C or order for the account of B (vi) Pay C or order being the unpaid residue of the bill (vii) Pay C or order on safe receipt of goods (viii) Pay C Sans Recourse (ix) Pay C, notice of dishonour dispensed with