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Bill of Exchange(BOE)

The ………. Acce...

Question

The ………. Accepts the bill by signing it to confirm that he is binding to the bill of exchange

A

Drawer

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B

Drawee

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C

Payee

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D

None of the above

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Solution

The correct option is B
Drawee

Drawee signs a bill & accepts it.

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Q. A bill is accepted by signing it by the to confirm that he/she is binding to it.

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The bill is drawn as an order to drawee to pay certain amount to payee. If drawee refuses to honour the bill, another person may be named in the bill itself, as _____.

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

Q. Prepare a specimen of Bill of Exchange from the following information:
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205, New Bazer,
Amaravati.
2. Drawee - Shri Jairam Purohit,
Hiwarkheda Road,
Kannad.
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Ladjalgaon.

4. Period of bill - 3 month
5. Amount of bill - Rs. 25,000
6. Date of bill -

25^{t h}

August, 2013
7. Date of acceptance -

28^{t h}

Q. The drawee becomes an _________________ on acceptance of bill.

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