Question

explain bills of exchange in detail

Answer 1

bill of exchange means see there are 2 important persons 1. drawer 2. drawee for example you have a shop (so u r shopkeeper) I am an old customer of your shop . one day I came to your shop and purchased goods rs. 5000 and I don't have money so i said I'll pay later u draw a bill then u draw a bill and I accept it .... here the one who draws the bill and gives credit, shopkeeper is drawer and the one who takes goods and have to return money who accepts bill is drawee
and the bill is like a evidence that I have to give money to you.. if I don't gave money to u .u can go to court
about bill
waste paper-(after drawing and accepting) bill of exchange- ( after paid) waste paper
hope u understand if u want to know more msg me