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Question
Find the odd one:
Options
Notary Public
Drawer
Drawee
Payee
Solution
Notary public
Explanation:
Drawer, Drawee, and Payee are all parties involved in a bill of exchange or cheque transaction. The drawer issues the bill, the drawee is the person or entity expected to pay, and the payee is the recipient of the payment. However, a notary public is an official who certifies dishonor of a bill but is not a direct party to the transaction.
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RELATED QUESTIONS
The person on whom a bill is drawn is called a ______.
Nothing charges are borne by ____________.
There are ___________ parties to bill of exchange.
The person who accepts the bill treats the bill as ________.
Give one word/phrase/term which can substitute the following statement:-
Three extra days which are allowed over and above the term of bill.
Give one word/phrase/term which can substitute the following statement:-
A person who is entitled to receive the amount of bill of exchange.
Give one word/phrase/term which can substitute the following statement:-
A person in whose favour a bill endorsed.
State True or False with reason:-
Retirement of bill means payment of the bill before due date.
State True or False with reason:-
Drawee can transfer the ownership of the bill.
Find the odd one:-
Answer in one sentence.
Who is payee of the bill?
Do you agree or disagree with the following statement:-
The party which is ordered to pay the amount is known as the payee.
Rebate or discount given on retiring a bill is an income to the drawee.
Do you agree or disagree with the following statement:-
A bill from the point of view of debtor is called Bills payable.
Do you agree or disagree with the following statement:-
Renewal is request by Drawee to extend the credit period of the bill.
Find the odd one:
