Question

when the drawer gets the bill discounied from the bank​

Answer 1

Answer:

It means that after getting the bill discounted or endorsing the drawer has no more responsibility. But his accounting record may be affected in one way. That is if drawee dishonors the bill on the due date. So till the date of the discounted or endorsed bill, it remains the contingent liability of the drawer.

Answer 2

Explanation:

It means that after getting the bill discounted or endorsing the drawer has no more responsibility. But his accounting record may be affected in one way. That is if drawee dishonors the bill on the due date. So till the date of the discounted or endorsed bill, it remains the contingent liability of the drawer.