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Question
Give word / term or phrase for each of the following statement.
The bill which is drawn in one country and payable in other country.
The bill which is drawn in one country and payable in other country.
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Solution
Foreign
Explanation: A bill of exchange drawn in one country and payable in another country is known as a foreign bill of exchange. For example, a bill, drawn in India and payable in USA, is a foreign bill.
Explanation: A bill of exchange drawn in one country and payable in another country is known as a foreign bill of exchange. For example, a bill, drawn in India and payable in USA, is a foreign bill.
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