CameraIcon

SearchIcon

MyQuestionIcon

1

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

Parties of BOE

The parties t...

Question

The parties to a bill of exchange are ?

A

Drawer, Drawee & Maker

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

B

Drawer, Drawee & Payee.

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

C

Payee, Drawee & Maker

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

D

Drawer. Maker & Payee

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

Open in App

Solution

The correct option is B
Drawer, Drawee & Payee.

Drawer, Drawee & Payee.

Suggest Corrections

thumbs-up

3

Similar questions

Q.
Identify which of the following is true and which is false.
P. A promissory note is a three-party instrument.

Q. In a bill of exchange, there are three parties, drawer, drawee and payee.
R. A promissory note can be made payable to the maker himself.
S. In a bill of exchange, the drawer and payee may be the same person.

Select the correct answer from the options given below-

Q. A bill of exchange is drawn by the drawer upon his drawee.

Q. Prepare a specimen of Bill of Exchange from the following information:
1. Drawer - Shri Ratnakar Patil,
205, New Bazer,
Amaravati.
2. Drawee - Shri Jairam Purohit,
Hiwarkheda Road,
Kannad.
3. Payee - Shri Rohit Joshi,
Kedareshwar Market,
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 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 _____.

Drawer and Payee can be the same person in case of a bill of exchange. Is the statement true?

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

Standard XI Accountancy

Join BYJU'S Learning Program

CrossIcon