In a bill of exchange, drawee is the person

Related MCQs

• Which of the following is/are true about bill of exchange? A) A bill of exchange requires in its inception two parties. B) A bill of exchange or “draft” is a written order by the drawer to the drawee to pay money to the payee. C) Bills of exchange are used primarily in international trade, and are written orders by one person to his bank to pay the bearer a specific sum on a specific date. D) Definition of ‘Bill of Exchange’ is mentioned in Section 6 of the Negotiable Instrument Act.
• If the holder of a bill of exchange allows the drawee more than ___ hours, exclusive of public holidays, to consider whether he will accept the same, all previous parties not consenting to such allowance are thereby discharged from liability to such holder.
• A drawer in the bill of exchange can also be a
• The rate at which RBI discounts approved bill of exchange is
• Which of the following section in the Negotiable Instruments Act deals with the Bill of Exchange?
• The Negotiable Instruments (Amendment) Bill, 2017 inserted a provision allowing a court trying an offence related to cheque bouncing, to direct the drawer (person who writes the cheque) to pay interim compensation to the complainant. The interim compensation will not exceed ___% of the cheque amount?
• ---------- is the right of a person to retain the property of another person in his possession untill the debt from that owner of that property is repaid.
• A -------------- is a person who is entrusted with some property by the settler or the author of the trust for the benefit of another person called beneficiary.
• Discounting of bills of exchange is
• There is legal obligation for a banker to collect the bills of exchange for its customer.