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Question
Give one word/phrase/term which can substitute the following statement:-
Bill of exchange drawn and accepted without any valuable consideration.
Solution
Bill of exchange drawn and accepted without any valuable consideration. - Accommodation bill.
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RELATED QUESTIONS
Before acceptance the bill is called a __________.
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:
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.
Find the odd one:-
Do you agree or disagree with the following statement:-
The person in whose favour the bill is endorsed is known as endorsee.
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 | ? | ? |
Prepare a format of bill of exchange from the following.
Drawer: Kashmira Shah, Partner M/S Shah, and Shah, 2-C, Matruchaya Building, Akola. Drawee: Dhanashree Traders, Bangalore Road, Belgaum. (Signed by Jayashree, Partner) Payee: M/S Janki Traders, Akola.
Amount : ₹ 64,500
Period of Bill : 3 months
Date of drawing: 12th Sept. 2019
Date of acceptance: 15th Sept. 2019
Complete the following Table:
| Date of Drawing | Date of Acceptance | Payable | Due Date |
| 30.1.2019 | 1.2.2019 | 60 Day after Date | ? |
Complete the following Table:
| Date of Drawing | Date of Acceptance | Payable | Due Date |
| 30. 1. 2019 | 1. 2. 2019 | 60 Days After Date | ? |
Complete the following table:
| Date of drawing | Date of acceptance | Payable | Due date |
| 23 - 12 - 22 | 26 - 12 - 22 | 1 month after date | ? |
| 28 - 01 - 23 | 28 - 01 - 23 | 1 month after date | ? |
Give Specimen of Bill of Exchange:
Drawer: Bhadresh Shah, A-101, Sakar flats, Bhopal
Drawee: Samir Patel, 105, Himalaya Tower, Indore
Amount: ₹ 70,000
Period of Bill: 60 days after date
Date of Bill: 10th October, 2022
Date of Acceptance: 12th October, 2022
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 ______.
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 in 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 ______.
