Question:

Under the Negotiable Instruments Act, 1881, whether acceptance of a bill of exchange in the following situation shall be treated as qualified acceptance where the acceptor

A.

undertakes to pay only `10,000 for a bill drawn for `15,000.

B.

declares the payment to be independent of any other event.

C.

writes, ‘Accepted, payable at ABC Bank’.

D.

writes, ‘Accepted, payable at Delhi’.

Answer» a. undertakes to pay only `10,000 for a bill drawn for `15,000.