Question

What is inland bill exchange? (Answer in one sentence)

Answer 1

Foreign bill
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Answer 2

Answer:

A bill formed and exchanged within the boundaries of a country.

Explanation:

There are two types of bills, based on the place of them being drawn and the place of them being paid.

First, are the Inland bills which are drawn in India but are payable outside India.

Second, are the Foreign bills which are drawn in India but are payable outside Indian borders or on foreign land.