Question

The inland bill which is drawn in and payable in the same country. (State True or False)

Answer 1

TRUE....

THIS BILL OF EXCHANGE DRAWN IN ONE COUNTRY AND PAYBLE IN ANOTHER COUNTRY.

Answer 2

The statement is true.

• An inland bill is a bill of exchange being drawn and made payable in the same country, as per the jurisdiction of that country.
• Whereas a bill being drawn in one country and payable in another country is referred to as a foreign bill.
• In the case of an inland bill, only one copy is prepared and stamps are also affixed only once. It is written on a judicial stamp paper and noted after dishonour.