Question

Mention three purposes of drawing and accomodation of bill

Answer 1

Answer:

There are three common methods of dealing with accommodation Bills and they are: (a) When one party accepts a Bill to accommodate the drawer only: (b) Where a Bill is drawn for mutual benefit of both the parties: (c) Where the two parties, each drawing a Bill: Dishonour of Accommodation Bills

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Answer 2

Three purposes of drawing and accomodation of bill are:

•A bill is drawn to send it from one country to another and a bill is a written statement of money which contains how much money a person needs to pay for a particular goods or services.

•One more important purpose of drawing a bill-Through bills,if the buyer doesn't have enough money at the time of purchase ,the buyer can pay it later.

•Accomodation of bills is the bill drawn or accepted by one person for another person.

•Accomodation of bills can serve as a good way of transfer of debt.