12. The term ‘negotiation’ in section 14 of the Negotiable Instruments Act, 1881 refers to

A. The transfer of a bill of exchange, promissory note or cheque to any person, so as to constitute the person the holder thereof
B. The payment by a bank on a negotiable instrument after due verification of the instrument
C. The bargaining between the parties to a negotiable instrument
D. All of the above.
✅ The correct answer is option A.

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