1
Question
X a resident of Japan draw a bill of exchange of Rs.5000 upon Y payable in Mumbai. This is a ___________.
X a resident of Japan draw a bill of exchange of Rs.5000 upon Y payable in Mumbai. This is a ___________.
Open in App
Solution
The correct option is B Foreign bill
A bill which is not an inland bill, is deemed to be a foreign bill.Example: A bill of exchange drawn in India, on a person residing outside India and made payable outside India.A bill drawn outside India and made payable in India. A bill drawn outside India, on a person residing in India.X, a resident of Japan draws a bill of exchange of Rs. 5,000 upon Y payable in Mumbai is an example of foreign bill.
A bill which is not an inland bill, is deemed to be a foreign bill.
Example: A bill of exchange drawn in India, on a person residing outside India and made payable outside India.
A bill drawn outside India and made payable in India.
A bill drawn outside India, on a person residing in India.
X, a resident of Japan draws a bill of exchange of Rs. 5,000 upon Y payable in Mumbai is an example of foreign bill.
Suggest Corrections
0
Similar questions
View More
Join BYJU'S Learning Program
Explore more
Join BYJU'S Learning Program
