1.

1. What is meant by maturity of a bill of exchange?2. What is meant by dishonour of a bill of exchange?3. What is Noting of a bill of exchange.4. Give the performa of a Bills Receivable Book.5. Give the performa of a Bills Payable Book.

Answer»

1. The maturity of a bill of exchange  refers to the date on which a bill of exchange or a promissory note becomes due for payment. 

2. Dishonour of a bill, happens when the acceptor of the bill fails to make the payment on the date of maturity of the bill. Hence, liability of the acceptor is restored. 

3. Noting of the bill is recording the facts of its dishonour by a Notary public. 

4. 

Serial number of Bill  Date received Date of bill Received from whom  Drawer Acceptor Wherever payable Term

5. 

Serial number of Bill Date of bill Given to whomDrawer PayeePayable where Term of bill Due dateLedger Folio


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