Parties of BOE

Q.

The parties to a bill of exchange are ?

1. Drawer, Drawee & Maker

2. Drawer, Drawee & Payee.

3. Payee, Drawee & Maker

4. Drawer. Maker & Payee

Q.

X draws a bill on Y for Rs. 3, 000. X endorsed this bill to Z. Who is the drawee ?

1. X

2. None of the above

3. Y

4. Z

Q.

The party which is entitled to receive the payment of bill of exchange is known as :

1. Drawer

2. Payee

3. Drawee

4. None of the above

Q.

Mohan sold goods to Suraj for Rs. 20000 and draw a bill upon Suraj for the same amount which is payable after 4 months. Mohan retain the bill for 4 months .Who is the drawee?

1. Mohan

2. Both

3. None

4. Suraj

Q.

The number of parties involved in bills of exchange are:

1. 1

2. 3

3. 4

4. 2

Q.

The party which is ordered to pay the amount of bill of exchange is called :

1. Drawer

2. Payee

3. None of the above

4. Drawee

Q.

In bill of exchange, drawer is ?

1. The person who accepts the bill

2. The person who draws the bill

3. The person in whose favour the bil] is

4. The person to whom the amount is paid

Q. Anil, brother of Sunil sold goods to Suraj for Rs.10, 000 and drew a bill upon him payable after 3 months. In this case, the drawee is/ are .

1. Anil
2. Sunil
3. Suraj
4. Anil and Sunil

Q. The is entitled to receive the payment of bill of exchange.

1. drawer
2. drawee
3. payer
4. payee

Q. The party who is ordered to pay the amount of bill of exchange is called as .

1. drawer
2. drawee
3. payer
4. payee