Accomodation Bills
1 Pay By Cash
2 Pay By Card
3 Ask for Credit
Option 3 :
Ask for Credit Scenario 1
CanBut
youI am
extend
not me In this
Ok, butdocument,
Your I total bill you
will make a
Sure, I am
carrying
credit ready
cash shall agree
document
amount istoRs.
which pay me
you
the
needamount
10,000 after 30
to accept
days from today
In Writing
To Pay
It must be dated.
The draft must be accepted for payment by the party to whom the order
is made.
Parties to Bill of Exchange
DRAWER DRAWEE
The party who The party who
draws the bill accepts the order
PAYEE :
The Party to whom the payment is to be made.
Drawer and Payee may be the same
PROMISSORY NOTE
Option 3 : Ask for Credit Scenario 2
ButPlease
I am ready to
find this Your total bill
But I am not Ok, then I have no
give you where
document, a I amount is Rs.
carrying cash Thanks!
problem
Promissory
promise Note
you to pay Rs. 10,000
10,000 after 30 days
It must be in writing.
a) Rs.20,000
b) Rs. 19,000
c) Rs. 19,200
d) Nil
Answer (b)
Question 2
From the following information, find out who
can draw the bill if Mr A sold goods to B:
d) None of these
Answer (a)
Question 3
Which of the following statement is false:
Answer (d)
Question No 4
Which of the following instrument is not a
negotiable instrument:
Answer (d)
Question No 5
The promissory note should be signed by:
(a) Drawer
(b) Drawee
(c) Payee
(d) Promiser
Answer (d)
THANK YOU