In case of dishonor, who has the right to sue for the amount due on the bill?
bills of exchange

Quiz
•
Business
•
11th Grade
•
Medium
nishka Vijaywargi
Used 3+ times
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Only the drawer
Only the payee
Any holder of the bill
The drawee
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
the person to whom the amount is payable is called
drawer
drawee
endorser
payee
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary purpose of a bill of exchange?
To serve as evidence of a transaction
To facilitate payments
To create a loan agreement
To provide credit
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A bill of exchange can be issued for
Cash only
Goods and services
personal loans only
Real estate transactions only
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The due date for payment on a bill of exchange is known as:
maturity date
endorsement date
acceptance date
issue date
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does 'acceptance for honor' mean?
Acceptance by the drawer
Acceptance by a third party to avoid dishonor
Acceptance with a discount
Acceptance that is conditional
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A bill of exchange is usually payable in:
GOODS
CASH
SERVICES
CREDIT
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