CameraIcon

SearchIcon

MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Features of Bill of Exchange

A bill of exc...

Question

A bill of exchange must be signed by ___________.

A

Drawer

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

Drawee

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

C

Payee

No worries! We‘ve got your back. Try BYJU‘S free classes today!

D

Endorser

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B Drawee
Acceptance is Required for a Bill of Exchange for its Legal Validity.
A Bill Before Acceptance is mere a DRAFT.
Hence The Drawee has to accept the Bill i.e Drawee Signs the Bill.

Suggest Corrections

thumbs-up

0

Similar questions

Q. A bill of exchange must be accepted by the payee.

Q.
A bill of exchange must contain _______ order to pay money only.

Q. A bill of exchange is drawn by a ________.

Q.
Which of following is/are essentials of a bill of exchange?
(I) It must contain clear undertaking to pay.
(II) It must be signed by the drawer.
(III) The maker must sign it in taking an undertaking to pay to payee or his order.
(IV) The parties must be certain.

Select the correct answer from the options given below-

Q. A bill of exchange must contain "an unconditional promise to pay." Do you agree with a statement?

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Introduction to Bill of Exchange

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

Features of Bill of Exchange

Standard XI Accountancy

Join BYJU'S Learning Program

CrossIcon