Question

What is an acceptance to bills of exchange? (Answer in one sentence)

Answer 1

WHEN DRAWEE ACCEPT A BILL WHICH IS DRAWL BY DRAWER ..

Answer 2

Acceptance to bills of exchange means that the drawee has accepted the bill drawn upon him by the drawer of the bill.

In the case of acceptance of a bill of exchange, the acceptor or the drawee writes accepted on the face of the bill. This verifies that the drawee has accepted the order of the drawer to pay the payee, the amount mentioned and on the fixed date.