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NCERT-BILL OF EXCHANGE -Test Your Understanding-I
- A bill of exchange must be accepted by the payee
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- A bill of exchange is drawn by the creditor.
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- A bill of exchange is drawn for all cash transaction
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- A bill payable on demand is called Time bill:
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- The person to whom payment is to be made in a bill of exchange is call...
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- A negotiable instrument does not require the signature of its maker.
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- The hundi Payable at sight is called Darshani hundi.
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- A negotiable instrument is not freely transferable.
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- Stamping of promissory note is not mandatory.
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- The time of payment of a negotiable instrument need not be certain.
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