Question

Q.2. Prepare a Specimen of "Bill Of Exchange" from the following information.
1. Drawer: Sanjay Deshmukh, B/746, Nana Peth, Pune.
2. Drawee: Mr. Anup Nair, A/16, Mira Road, Mumbai
3. Amount of the bill: Rs.48,350/-
4. Date of the bill: 12 th Nov., 2019
5. Amount of acceptance: Rs.45,000/-
6. Tenure of the bill: 90 days
7. Date of acceptance : 15 th Nov., 2019​

Answer 1

Answer:

I don't know️️

Answer 2

Answer:

Bill of Exchange

No. _____________

Pune, 12th Nov. 2019

Three months after the date, on behalf of Mr. Sanjay Deshmukh, Resident of B/746, Nana Peth, Pune, to pay a total of Rs. 48,350/. (Rupees Forty Eight Thousand Three Hundred Fifty only) with interest at the rate of ________%

Accepted

Mumbai, 15th Nov. 2019

Mr. Anup Nair

Residing at A/16, Mira Road, Mumbai

The amount accepted: Rs. 45,000/- (Rupees Forty Five Thousand only)

Sanjay Deshmukh

Explanation:

A prescribed bill of exchange is drawn up in accordance with the general form and requirements of a general bill of exchange. It contains all the necessary information such as the issuer (Sanjay Deshmukh), name and address of the drawee (Mr. Anup Nair), exchange amount, exchange date, acceptance amount, and acceptance date. and billing period.

The amount charged is Rs. 48,350/- and the amount received is Rs. 45,000/-. Bills of exchange are valid for 90 days. That is, the drawee must pay the recipient the amount within 90 days. The draft was approved by the drawee on November 15, 2019. 

This Emphasizes the importance of financial instruments such as bills of exchange in international trade and commerce. They offer safe and efficient payment methods and can be used to determine your credit worthiness and financial stability. It is important that students have a clear understanding of these financial instruments and their impact on businesses and the economy as a whole. 

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