Question

Meaning BILL OF EXCHANGE with examples.

SPECIMENS OF A BILL OF EXCHANGE

features of Bill of Exchange are:

parties to a Bill of Exchange:

Types of Bill of Exchange:
(I) Trade Bill:
(ii) Accommodation Bill

Advantage of Bill of Exchange:
(I) Purchase and sale of goods on credit:

(ii) Discounting Facility:

(iii) Easy to Recover the Amount:

(iv) Certainty as to Payment:

(v) No Reminder to Debtor:

(vi) Convention Mean of Tade Remittances:

(vii) Endorsement:

(viii) Valid Evidence of Debt:

Meaning PROMISSORY NOTE with examples.

Features of a promisssory Note

Parties to a Promissory Note:

SPECIMEN OF A PROMISSORY NOTE

Distinction Between Bill of Exchange and Promissory Note.

Important Terms
1.Drawer:

2.Drawee:

3.Payee:

4.Term of a Bill:

5.Due Date:

6.Days of Grace:

7.Date of Maturity:

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Answer 1

Answer:

Referred book:- T.S. Grewal

Explanation:

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