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Receipts and Payments Account

Write True or...

Question

Write True or False

Drawee is a person who holds the title of the bill in due course.

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Solution

False

Explanation: Drawee is the person on whom the bill is drawn and who accepts the bill by writing the word 'Accepted' on it. Any subsequent holder of the bill, who holds the bill in good faith and exchanges something valuable for it, is known as the holder in due course.

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