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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.
पर्याय
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?
Give one word/phrase/term which can substitute the following statement:-
Person who is in possession of Bill of Exchange.
Give one word/phrase/term which can substitute each of the following statement:-
Amount which is not recoverable from Drawee on account of insolvency.
Making payment of bill before the due date of maturity is known as ___________.
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 person who draws the bill of exchange 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 relationship between Drawer and Drawee?
Answer in one sentence.
What is bills payable on demand?
A bill of exchange is a conditional order.
Define bill of exchange.
Write a short note on:
Endorsement of a bill
Write a short note on:
Discounting 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.
The due date of the bill drawn for 2 months on 23rd Nov. 2019 will be ______.
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.
The due date of the bill drawn for 2 months on 23rd Nov. 2019 will be ______.
Give one word/phrase/term which can substitute the following statement:-
Conversion of Bill of Exchange into its present value.
