MyQuestionIcon

1

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

Benefits of Debentures

The party who...

Question

The party who is ordered to pay the amount of bill is known as _______.

A

Drawee

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

B

Drawer

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

C

Payee

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

D

Endorser

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

Open in App

Solution

The correct option is A Drawee
As per Negotiable Instruments Act , Bill of exchange is an unconditional order to pay for the value received today.
As buyer has an obligation of debt because of credit Purchase of goods by him , under bill of exchange he becomes Drawee as the bill drafts such order for making payment.

Suggest Corrections

thumbs-up

0

Similar questions

Q. The party who is ordered to pay the amount of bill of exchange is called as .

Q. The party which is ordered to pay the amount is known as __________.

Q. A person who is strongly committed to a party, group or faction is known as ___________.

Q. It's your grandmother's retirement party. She is a government employee. She promises to pay your school fee regularly with the money she is going to receive from the government. The amount she would regularly receive after her retirement is known as _______.

Q. A person who draws a bill of exchange is known as the ________.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

What is a Debenture?

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

Benefits of Debentures

Standard XII Accountancy

Join BYJU'S Learning Program

CrossIcon