A 'Demand Draft' is defined under section ______ of the Negotiable Instruments Act, 1881
Verified Answer
A. Section 17
B. Section 18(B)
C. Section 85(A)
D. Section 7
Explanation:
While the Negotiable Instruments Act, 1881, does not explicitly define 'Demand Draft' in a single section, Section 7 defines 'drawer', 'drawee', and 'payee', which are fundamental to understanding a demand draft as a type of bill of exchange. The marked answer points to Section 7.