Question

Suggestions to various treatments of Bill of exchange

Answer 1

You must be aware of the fact that in the modern business scenario, most of the business transactions are made on credit. Customers are lured with the facility of enjoying credit for enhancing the volume of sales. In case of a cash purchase, it is settled immediately by payment of cash. However, for settlement of a credit transactions, bills of exchange or promissory notes are used. These instruments used for the settlement of debts are known as Negotiable Instruments. In this article we will have a formal introduction to Bills of Exchange.


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