wiz-icon
MyQuestionIcon
MyQuestionIcon
13
You visited us 13 times! Enjoying our articles? Unlock Full Access!
Question

Give word / term or phrase for each of the following statement.

Transfer of title of the bill from debtor to creditor.

Open in App
Solution

Endorsement

Explanation: Endorsement means when a bill of exchange is signed for the purpose of transferring it to another person. The debtor signs the bill and transfers it to his/her creditor. On endorsement, the endorsee becomes entitled to receive the payment.

flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
What is a Debenture?
ACCOUNTANCY
Watch in App
Join BYJU'S Learning Program
CrossIcon