Sociology, asked by haider8822, 1 year ago

A bill of exchange which allowed merchants to engage in long distance trade during pre-colonial period in India is called ___________.

Answers

Answered by mindfulmaisel
2

A ‘bill of exchange’ which allowed ‘merchants to engage’ in long-distance trade during the ‘pre-colonial period’ in India is called Hundi.

Explanation:

  • Hundi were bills of order which were given in the form of writing that directed the ‘person to pay’ a certain amount of money which was mentioned in the Hundi.  
  • It was an informal system of accepting an order and making a payment for it.  
  • These are used in trading credit transactions during the pre-colonial period in India.
Answered by TheBestWriter
0

Explanation:

A ‘bill of exchange’ which allowed ‘merchants to engage’ in long-distance trade during the ‘pre-colonial period’ in India is called Hundi.

Explanation:

Hundi were bills of order which were given in the form of writing that directed the ‘person to pay’ a certain amount of money which was mentioned in the Hundi.  

It was an informal system of accepting an order and making a payment for it.  

These are used in trading credit transactions during the pre-colonial period in India.

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