satisfying answer will be marked as brainliest ... DONT SPAM journal entry of bill of exchange ......dishonour of bill endorsed to third party
Answers
Explanation:
A notice of dishonor is simply a notice given by the holder of the bill of exchange to previous endorser(s) and to the drawee to inform them that bill has been dishonoured. Only after giving due notice of dishonour, the holder can sue the liable parties for the recovery of amount due on the instrument
Answer:
The drawer is the person who draws or makes the bill and sends it to the drawee or the payer for the acceptance. Once accepted, the bill becomes Bills Receivable for the drawer and Bills Payable for the drawee or payee.
The drawer may endorse the bill to another person who becomes the holder of the bill. On the due date, the holder presents the bill to the drawee for payment.
The payee is the person who eventually pays for the bill. Drawee will be the payee as well most of the time but sometimes a third party will pay the bill on behalf of the drawee then the third party will become the payee.