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Question
Write True or False
Acceptance with some change as regards the terms of a bill general acceptance.
Acceptance with some change as regards the terms of a bill general acceptance.
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Solution
False
Explanation: When acceptance is received with some changes in the terms of a bill, it is known as qualified acceptance. However, when a bill of exchange is accepted without altering the terms of the bill, it is known as general acceptance.
Explanation: When acceptance is received with some changes in the terms of a bill, it is known as qualified acceptance. However, when a bill of exchange is accepted without altering the terms of the bill, it is known as general acceptance.
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