Question

Bills of exchange before its acceptance is called a​

Answer 1

Answer:

The issuing bank guarantees payment on the transaction. If bills of exchange are issued by individuals, they can be referred to as trade drafts. If the funds are to be paid immediately or on-demand, the bill of exchange is known as a sight draft

Explanation:

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Answer 2

The amount mentioned in the bill of exchange is payable either on demand or on the expiry of a fixed period of time. ... 10,000 payable after three months. Before it is accepted by Rohit it will be called a draft.....

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