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Question
Prepare a bill of exchange form the following information:
Drawer: Shankar, Vadodara, Gujrat.
Drawee: Vinayak, Somwarpeth, Pune.
Amount : ₹ 16,000
Period : 3 months
Date of Bill: 6th Sept. 2019.
Date of acceptance: 11th Sept. 2019.
Solution
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RELATED QUESTIONS
The due date of the bill drawn for 2 months on 23rd Nov. 2019 will be ____________.
When a bill is drawn for 2 months after date on 3rd Jan. 2020, its due date will be ___________.
When Acceptor or Drawee does not pay the amount of bill to the holder on the due date it is known as ___________ the bill.
Give one word/phrase/term which can substitute the following statement:-
Bill of exchange drawn and accepted without any valuable consideration.
Give one word/phrase/term which can substitute the following statement:
Conversion of Bill of Exchange into its present value.
State True or False with reason:-
Acceptance of bills without making any changes in the terms of the bill is called qualified acceptance.
State True or False with reason:-
Discounting is a device to convert the bill into its present value.
State True or False with reason:-
If a bill is discounted by the holder, no entry is passed in his book when the bill is honoured on the due date.
Answer in one sentence.
What do you mean by rebate?
Do you agree or disagree with the following statement:-
A bill of exchange need not be dated.
Complete the following Table
| Date of Drawing | Date of Acceptance | Payable | Due Date |
| 30.1.2019 | 1.2.2019 | 60 days after date | |
| 17.8.2019 | 21.8.2019 | 3 months after sight | |
| 23.12.2019 | 26.12.2019 | 1 months after date | |
| 28.1.2020 | 28.1.2020 | 1 months after date | |
| 30.6.2019 | 2.7.2019 | 45 days after date |
Complete the following Table
| Sr. No | Date of drawing | acceptance | Tenure | Type | Nominal due date | Legal due date |
| 1 | 3rd January 2020 | 5th January 2020 | 45 days | after date | ? | ? |
| 2 | 9th April 2019 | 12th April 2029 | 4 months | After sight | ? | ? |
| 3 | 23rd November 2019 | 23rd November 2029 | 2 months | after date | ? | ? |
| 4 | 16th August 2019 | 20th August 2019 | 4 months | After sight | ? | ? |
| 5 | 23rd December 2018 | 24th December 2018 | 60 days | after date | ? | ? |
Kantilal, 343/D, Palm Heights, Jogeshwari, drew a bill on 10th Oct. 2019 for ₹ 63,490 for 45 days after date on Shantilal, B2, Himalaya Towers, Baramati, payable to Priyanka, Satara. The bill was accepted on 13th Oct. 2019 for 60 days.
Prepare a format of bill of exchange from the above details.
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.
Give one word/phrase/term which can substitute of the following statement:-
Conversion of Bill of Exchange into its present value.
The due date of the bill drawn for 2 months on 23rd Nov. 2019 will be ______.
Give one word/phrase/term that can substitute for the following statement:
Conversion of Bill of Exchange into its present value.
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 ______.
Give one word/phrase/term which can substitute the following statement:
Conversion of Bill of Exchange into its present value.
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 ______.
Give one word/phrase/term which can substitute the following statement:
Conversion of Bill of Exchange into its present value.
Give one word/phrase/term which can substitute the following statement:-
Conversion of Bill of Exchange into its present value.
