Question

When the drawee signs the bill it is considered as


Accepted

Retained

Renewal

Endorsed

When​

Answer 1

When the drawee signs the bill it is considered as accepted

Answer 2

The correct answer is ACCEPTED.

"After the drawee of a bill has signed his assent upon the bill, or, if there are more parts thereof than one, upon one of such parts, and delivered the same, or given notice of such signing to the holder or to some person on his behalf, he is called the'acceptor," according to Section 7 of the Negotiable Instruments Act, 1981. As a result, the drawee must sign his agreement on the front of the bill of exchange. The notice is only intended to serve as a substitute for actual delivery.

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