Question

Which are the 2 types of bills of exchange?

Answer 1

According to the bookkeeping perspective, Bills of trade are of two sorts:

Exchange bill: Where the bill of trade is attracted and acknowledged to settle an exchange, it is known as a Trade bill.

Convenience bill: Where a bill of trade is drawn and acknowledged for shared assistance, it is called a convenience bill.

Also read:

• Difference Between Bill of Exchange and Promissory Note
• Types of Bill of Exchange