Question

Inland bills are those bills which are ________ or ________ in India.

• A. drawn, payable
• B. accepted, stamped
• C. stamped, registered
• D. none of the above

Answer 1

Answer: (A)

drawn, payable

A bill of exchange which is drawn or made in a country and paid in the jurisdiction of the same country is called inland bill. The section 11 of the Negotiable Instruments Act, 1881 provides that the bills of exchange (including cheques/promissory notes) drawn or made in India and made payable in or drawn upon any person resident in India shall be deemed to be an inland bill of exchange (or inland cheques or inland promissory notes as the case may be).