Endorsement of the bill of exchange refers to the situation when the drawer of the bill transfers the bill in favour of his creditor in order to... View Article
The difference between bill of exchange and promissory note is that in a bill of exchange the creditor issues the order to debtor for paying a... View Article
Foreign bill of exchange is a type of bill of exchange that is drawn in one country and is payable in another country. For e.g: bill of exchange... View Article
The difference between a letter of credit and bill of exchange is that while a letter of credit is a payment mechanism, the bill of exchange is a... View Article
Bill of exchange needs to be discounted when the drawer is in urgent need of money and the due date for the maturity of the bill of exchange is... View Article
A) Production of goods B) Transportation C) Exchange of goods D) Salary or wages Answer: D) Salary or wages Business activities are those... View Article
Cheque is a type of bill of exchange which contains an unconditional order to the drawee to make a payment to the payee on behalf of the drawer.... View Article
Bills of exchange have the following characteristics: A bill of exchange must be in writing. It should essentially include an order to pay.... View Article
The following are the advantages of the bill of exchange: It is a legal document and in case the drawee fails to pay the amount, then the... View Article
In normal circumstances, the drawer of the bill keeps the bill of exchange till the date of its payment, in that he becomes the payee. This can... View Article
The different types of bills of exchange are as follows: Documentary bill Demand bill Inland bill Usance bill 5.Foreign bill Clean bill... View Article
According to the Negotiable Instruments Act 1881, a bill of exchange is defined as “an instrument in writing containing an unconditional... View Article
In a partnership, the partners in the business get the profit shared among themselves in the ratio as mutually agreed upon by them at the time of... View Article
There are no CEOs in a partnership firm, all are referred to as partners. However, in case of partnership, if a person is managing all the works... View Article
The stamp duty varies from Rs.200 to Rs.10000 depending on the state. Also read: MCQs on Partnership Partnership Deed What Is Partnership... View Article
In absence of a partnership deed, the following provisions will apply as per Indian Partnership Act, 1932. No salary or remuneration can be... View Article
A notarised partnership deed is not regarded as a valid document in case of legal disputes. It will not be considered to have a legal status with... View Article
Yes, notarisation of the partnership deed is essential along with registration, as it makes the agreement between partners a legal one which can... View Article
