Endorsing the Bill

Q.

What do you mean by Legacy?

Q.

A endorses a negotiable instrument in favour of B. Here

1. A is the endorser and B is the endorsee

2. B is the endorser and A is the endorsee

3. both are endorsers

4. both are endorsees

Q.

X draws a bill on Y for Rs. 3, 000. X endorsed this bill to Z. Y will pay the bill amount to :

1. X

2. Z

3. Himself

4. None of the above

Q.

Briefly explain the purpose and benefits of retiring a bill of exchange to the debtor and the creditor.

Q. A drew a bill upon B for Rs.25, 000 payable after 3 months. B endorses the bill in favour of C. In this case, the endorser is and the endorsee is .

1. A
2. B
3. C
4. D

Q.

A bill of exchange drawn by X on Y bears across its face two parallel transverse lines.
Whih of the following is correct interpretation of the above statement?

1. The bill is crossed generally

2. The bill contains superfluous extraneous addition.

3. The bill can not be endorsed further.

4. The bill is specially crossed

Q.

The procedure by which a bill is transferred from one person to another for setllement of debts is called?

1. Retirement

2. Endorsement

3. Renewal

4. None of the above

Q. The procedure by which a bill is transferred from one person to another for settlement of debts is called as .

1. retirement
2. renewal
3. dishonor
4. endorsement