Advertisements
Advertisements
Question
Notary Public is ___________.
Options
Govt. officer
Drawer
Payee
Endorsee
Solution
Notary Public is Govt. officer.
APPEARS IN
RELATED QUESTIONS
Answer in one sentence.
What are noting charges?
State True or False with reason:-
Inland bill is one which is drawn in one country and payable in another country.
Find the odd one:-
Find the odd one:-
Making payment of bill before the due date of maturity is known as ___________.
Amount that cannot be paid by acceptor on account of inslovency is known as __________.
Fees charged by the bank for collection of bill on behalf of holder is ____________.
Answer in one sentence.
What are days of grace?
Answer in one sentence.
What is noting of the bill?
Answer in one sentence.
What is relationship between Drawer and Drawee?
Answer in one sentence.
What is legal due date?
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
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.
Give Specimen of Bill of Exchange:
- Drawer: Mr. Ram Das, Pune
- Drawee: Mr. Kapil Deo. Mumbai
- Amount: ₹ 1,05,000
- Tenure : 3 Months
- Date of Bill: 3rd March. 2020
- Date of Acceptance: 7th March, 2020
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______.
Bina draws a bill on Tina for ₹ 24,000 on 6th Oct. 2022 for 3 months. Tina accepts the bill on the same date. Bina sends the bill to Bank for collection on 20th Oct. 2022. Before due date, Tina finds herself unable to make the payment of bill and request Bina to renew it. Bina agree to the proposal on condition that Tina should pay ₹ 10,000 in cash along with interest ₹ 800 and accept a new bill for 2 months for the balance. Tina retired the bill on 12th Jan. 2023 by paying ₹ 13,500.
Calculate legal due date for the following:
Date of Bill | Period | Legal due date |
19th Jan. 2022 | 60 days | ? |
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.