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Question
Give word / term or phrase for the following statement.
Transfer of title of the bill from debtor to creditor.
Solution
Endorsement
Explanation: Endorsement means when a bill of exchange is signed for the purpose of transferring it to another person. The debtor signs the bill and transfers it to his/her creditor. On endorsement, the endorsee becomes entitled to receive the payment.
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RELATED QUESTIONS
Transfer of title of a bill from a debtor to a creditor.
What is 'qualified acceptance' ?
State whether the following statement is True or False.
A bill of exchange can be endorsed only once.
Give word / term or phrase for the following statement.
The person who transfer the ownership of the bill.
Give word / term or phrase for the following statement.
The person in whose favour the bill transferred.
Write True or False
Endorsee is person in whose favor the bill transferred.
Write True or False
Endorsement means transfer of title of the bill from debtor to creditor.
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Write a word/term/phrase as substitute for following statement.
