Understanding Bill of Exchange: Types, Due Dates, and Acceptance

This video tutorial explores the concept of a Bill of Exchange, covering its terms, types of acceptance, and various scenarios involving drawing and endorsing bills. It includes exercises on calculating due dates and evaluating true or false statements related to bills. The session concludes with a brief promotion of the channel for more educational content.

Who draws a bill on Mr. Harry on 30th April?

• Mr. Joy

• Mr. Roy

• Mr. John

• Mr. Eric

In the scenario where Mr. John endorses a bill to Mr. Eric, who is the endorser?

• Mr. Eric

• Mr. Harry

• Mr. Roy

• Mr. John

If a bill is drawn on 20th 2016 with a duration of 10 days, what is the legal due date if 4th and 5th March are public holidays and 6th March is a Sunday?

• 5th March

• 6th March

• 8th March

• 7th March

A bill after sight is drawn on 1st October and accepted on 4th October with a duration of 25 days. What is the nominal due date?

• 29th October

• 31st October

• 1st November

• 30th October

A bill on demand is drawn on 3rd November 2016 with a duration of 20 days. What is the due date?

• 26th November

• 23rd November

• 24th November

• 25th November

Which statement is true regarding the person who has to pay the bill amount?

• Joy has to pay the bill amount.

• Eric has to pay the bill amount.

• Roy has to pay the bill amount.

• John has to pay the bill amount.

What type of acceptance is it when a bill is accepted by changing the term of the place?

• Partial Acceptance

• General Acceptance

• Conditional Acceptance

• Qualified Acceptance