A bill of exchange is an?
  • A promise
  • Unconditional order
  • A request
  • A order
A person who writes out the order to pay is called?
  • Drawer
  • Acceptor
  • Payee
  • Drawee
When a drawer discounts the bill, he gets?
  • More than face value
  • Less than face value
  • Equal to face value
  • None of above
In case of term bill extra three days are given to acceptor are called?
  • Days of bill payable
  • Days if bill receivable
  • Days of grace
  • Days of tenor
How many parties are involved in case of discounting of bill?
  • Two
  • Three
  • Four
  • Unlimited
Bill of Exchange has parties :
  • 6
  • 2
  • 3
  • 4
The party which is ordered to pay the amount of bill of exchange is called :
  • Drawee
  • Payee
  • Drawer
  • None of these
The party which is entitled to receive the payment of bill of exchange is known as :
  • Drawer
  • Payee
  • Drawee
  • None of these
Due date of a bill of exchange drawn on 30th January, 2011 for one month will be :
  • 5 Mar
  • 3 Mar
  • 29 Feb
  • 4 Mar
The promissory note should be signed by
  • Payee
  • Drawee
  • Drawer
  • Promiser
On dishonor of a discounted bill who does the bank look for payment?
  • Drawer
  • Payee
  • Endorser
  • None
While calculating the due date of the bill, how many days are added to the period of the bill :
  • 4 days
  • 3 days
  • 5 days
  • Neither of these
Encashing the bill before the date of its maturity is called :
  • Dishonour of Bill
  • Retirement of Bill
  • Discounting of Bill
  • Endorsement of Bill
A bill of exchange renewed generally at the request of
  • Drawee
  • Bank
  • Drawer
  • None
A bill of exchange can not be
  • Endorsed
  • Accepted
  • Refused
  • Crossed
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