Bill of exchange

Bill of exchange has........parties

• Two

• Three

• Four

• Seven

The party which is ordered to pay the amount is known as

• Drawer

• Payee

• Drawee

• None of these

Three days are added for ascertaining the date of maturity. These are known as days of......

• Maturity

• Grace

• Payment

• none of these

A promissory note is made by......

• Seller

• Purchaser

• Endorsee

• None of these

4 month bill drawn on 1st January 2019 will mature for payment on.....

• 3rd may 2019

• 4th may 2019

• 5th may 2019

• 10th may 2019

If the due date of bill falls on public holiday then the maturity date is on

• One day after maturity date

• One day before maturity day

• Public holidays

• None of these

When the bills of exchange of drawn and accepted for trade purpose it is called.....

• Accommodation bill

• Trade bill