Question

On 29 August, 2017, Mudit draws a bill on Paresh for one month, the due date will be:
a) 2nd October, 2017
b) 29 September, 2017
c) 3 October, 2017
d) 1October, 2017

Answer 1

Answer:

answer is

Explanation:

a __ please like

Answer 2

The correct answer for the above-given question is OPTION D: 1st October 2017.

• According to the Negotiable Instruments Act 1881, a bill of exchange is a document in writing including an unconditional order, signed by the maker, instructing a particular person to pay a defined quantity of money solely to, or to the order of a specific person, or the bearer of the instrument.
• Some of the reasons why bills of exchange are important are as follows:

1. Give the creditor enough time to pay for the items.
2. It allows the seller to take legal action against the buyer if payments are not received on time.