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प्रश्न
State True or False with reason:-
A bill of exchange must be presented to the acceptor on the due date.
विकल्प
True
False
उत्तर
This statement is True.
To get the payment of the bill from the acceptor, the holder of the bill is required to present it to the acceptor on its due date. Acceptor either honours the bill or dishonours the bill.
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संबंधित प्रश्न
Answer in one sentence.
What are noting charges?
Notary Public is ___________.
Give one word/phrase/term which can substitute each of the following statement:-
Amount which is not recoverable from Drawee on account of insolvency.
State True or False with reason:-
Inland bill is one which is drawn in one country and payable in another country.
Find the odd one:-
Person whose liabilities are more than his assets and is not in position to pay off his liabilities is _________.
Amount that cannot be paid by acceptor on account of inslovency is known as __________.
A bill which is drawn and accepted with valuable consideration is known as ___________.
Recording the fact of dishonour of Bill is known as ___________.
When Drawee accepts the bill payable at a particular place only, it is known as _________.
Answer in one sentence.
What are days of grace?
Answer in one sentence.
What do you mean by discounting a bill of exchange?
Answer in one sentence.
What is legal due date?
Answer in one sentence.
What is bills payable on demand?
Define bill of exchange.
Write a short note on:
Endorsement of a bill
Find the odd one.
Sonali draws a bill on Rupali for ₹ 50,000 for 3 months. Rupali accepts the bill on the same date. Sonali sends the bill to the bank for collection. Before the due date, Rupali finds herself unable to make payment of bill and requests Sonali to renew it. Sonali agrees to the proposal on a condition that Rupali should pay ₹ 20,000 in cash along with interest of 1,000 and accept a new bill for 2 months for the balance. Rupali retired the bill by paying ₹ 27,000.
Give Journal entries in the books of Sonali and prepare Rupali's Account in the books of Sonali.
Give Specimen of Bill of Exchange:
- Drawer: Mr. Ram Das, Pune
- Drawee: Mr. Kapil Deo. Mumbai
- Amount: ₹ 1,05,000
- Tenure : 3 Months
- Date of Bill: 3rd March. 2020
- Date of Acceptance: 7th March, 2020
The due date of the bill drawn for 2 months on 23rd Nov. 2019 will be ______.
The due date of the bill drawn for 2 months on 23rd Nov. 2019 will be ______.
The due date of the bill drawn for 2 months on 23rd Nov. 2019 will be______.
Bina draws a bill on Tina for ₹ 24,000 on 6th Oct. 2022 for 3 months. Tina accepts the bill on the same date. Bina sends the bill to Bank for collection on 20th Oct. 2022. Before due date, Tina finds herself unable to make the payment of bill and request Bina to renew it. Bina agree to the proposal on condition that Tina should pay ₹ 10,000 in cash along with interest ₹ 800 and accept a new bill for 2 months for the balance. Tina retired the bill on 12th Jan. 2023 by paying ₹ 13,500.
A bill of exchange is a ______.
Calculate legal due date for the following:
| Date of Bill | Period | Legal due date |
| 19th Jan. 2022 | 60 days | ? |
Write the word/phrase/term which can substitute each of the following statements:
A person in whose favour a bill is endorsed.
