Question

When the drawer keeps the bill with himself till the date of maturity it is called __________.

• A. Retaining the bill
• B. Discounting the bill
• C. Endorsing the bill
• D. Sending the bill to bank for collection

Answer 1

The correct option is A Retaining the bill

Retained bill means the drawer has kept the bill with himself till the time of maturity.he did not endorse it to the third party or discounted it with the bank.on the maturity date the drawee will pay the given amount to the drawer for the purchase of goods on credit earlier.