Question

give any 5 advantages of bill of exchange

Answer 1

It is a legal evidence of debt.

It is a convenient method for the transfer of debt

A creditor can sue on the bill itself

It is a negotiable instrument and can be transferred for settlement of one’s debt without difficulty.

It can be cashed before due date by discounting.

A debtor enjoys the benefit of full period of credit.

Answer 2

1.it is a legal evidence of debt.

2. It is a convenient method for the transfer of debt

3. A creditor can sue on the bill itself

4. It is a negotiable instrument and can be transferred for settlement of one’s debt without difficulty.

5. It can be cashed before due date by discounting.

A debtor enjoys the benefit of full period of credit.

It affords an ease means of transmitting money from one place to another.