What is Bill of Exchange? Write the names of the two parties of Bill o

1.	What is Bill of Exchange? Write the names of the two parties of Bill of Exchange.
Answer» Bill of Exchange: When goods are sold on a credit basis, the businessman does not get cash immediately, but he gets it after a stipulated time. In the mean-time, he is supplied with a written acknowledgement of debt, which known as Bills of Exchange. Parties of Bills of Exchange: 1.. Drawer: He is the person who writes or draws the Bills of Exchange. 2. Drawee: Drawee is a person on whom Bill of Exchange has been drawn. 3. Payee: Payee is the person to whom the amount mentioned in the Bill is paid.

What is Bill of Exchange? Write the names of the two parties of Bill of Exchange.

Answer»

Bill of Exchange: When goods are sold on a credit basis, the businessman does not get cash immediately, but he gets it after a stipulated time. In the mean-time, he is supplied with a written acknowledgement of debt, which known as Bills of Exchange.

Parties of Bills of Exchange:

1.. Drawer: He is the person who writes or draws the Bills of Exchange.

2. Drawee: Drawee is a person on whom Bill of Exchange has been drawn.

3. Payee: Payee is the person to whom the amount mentioned in the Bill is paid.

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