What are the Need and importance of bills of exchange? I want point wise answer.
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HEY DIVINA....✔
U R ANSWER.....
♣ IMPORTANCE OF BILL OF EXCHANGE =
1→ A BILL OF EXCHANGE MUST BE IN WRITING IT CANNOT BE ORAL.
2→ IT MUST BE, DATED & STAMPED
3→ IT MUST BE SIGN BY THE MAKER
4→ THE NAME OF THE DRAWER MUST BE CLEARLY MENTIONED.
5→ THE ORDER MUST BE AN UNCONDITIONAL
6→ IT MUST CLEARLY SPECIFY WHEN PAYMENT IS TO BE MADE
7→ IT MUST BE ACCEPTED BY DRAWEE.
8→ THE AMOUNT SHOULD BE PAID INTO THE STIPULATED TIME.
♣ NEED OF BILL OF EXCHANGE
1→ IN THE BILL OF EXCHANGE THE DEBTOR GIVES ACKNOWLEDGEMENT OF THE DEBTS , WHICH AUTOMATICALLY CREATES EVIDENCE OF THE DEBTS
2→ THE SELLER OR CREDITOR IS RELIVED FROM THE TENSION OR RISK OF RECOVERY OF THE AMOUNT OF DEBTS.
3→ THE SELLER OR CREDITOR COMES TO KNOW THE RECEIVING THE PAYMENT OF THE BILL.
4→ IT IS VALUABLE DOCUMENTS , WHICH CAN BE DISCOUNTED WITH THE BANK TO RAISED NEEDED FINANCE.
5→ IT CAN BE USED OR ENDORSED BY ITS OWNER IN SETTLEMENT OF THE DEBTS OWED BY HIM.
↙↘↙↘↙↘↙↘↙↘
MAYBE IT HELPS 4 U
↖↗↖↗↖↗↖↗↖↗
U R ANSWER.....
♣ IMPORTANCE OF BILL OF EXCHANGE =
1→ A BILL OF EXCHANGE MUST BE IN WRITING IT CANNOT BE ORAL.
2→ IT MUST BE, DATED & STAMPED
3→ IT MUST BE SIGN BY THE MAKER
4→ THE NAME OF THE DRAWER MUST BE CLEARLY MENTIONED.
5→ THE ORDER MUST BE AN UNCONDITIONAL
6→ IT MUST CLEARLY SPECIFY WHEN PAYMENT IS TO BE MADE
7→ IT MUST BE ACCEPTED BY DRAWEE.
8→ THE AMOUNT SHOULD BE PAID INTO THE STIPULATED TIME.
♣ NEED OF BILL OF EXCHANGE
1→ IN THE BILL OF EXCHANGE THE DEBTOR GIVES ACKNOWLEDGEMENT OF THE DEBTS , WHICH AUTOMATICALLY CREATES EVIDENCE OF THE DEBTS
2→ THE SELLER OR CREDITOR IS RELIVED FROM THE TENSION OR RISK OF RECOVERY OF THE AMOUNT OF DEBTS.
3→ THE SELLER OR CREDITOR COMES TO KNOW THE RECEIVING THE PAYMENT OF THE BILL.
4→ IT IS VALUABLE DOCUMENTS , WHICH CAN BE DISCOUNTED WITH THE BANK TO RAISED NEEDED FINANCE.
5→ IT CAN BE USED OR ENDORSED BY ITS OWNER IN SETTLEMENT OF THE DEBTS OWED BY HIM.
↙↘↙↘↙↘↙↘↙↘
MAYBE IT HELPS 4 U
↖↗↖↗↖↗↖↗↖↗
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