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advantages of bill of exchange
A bill of exchange is a document demanding payment from another party, especially in international trade.
Nominal account
The following are the main differences between a cheque and a bill of excyange.A cheque is always drawn on a banker, whereas a bill of exchange can be drawn on any person including a banker.A cheque is always payable on demand, whereas a bill of exchange is either payable on demand or after a fixed period.Payment of a cheque can be countermanded, whereas the payment of a bill of exchange cannot be counter mended.A cheque can be made payable to a bearer, but a bill of exchange can be made payable only to order.A cheque is a means of payment. But a bill of exchange is usually used for financing a trade.In a cheque, the drawer of the cheque is primarily responsible, but in a bill of exchange, the drawee or acceptor is primarily responsible for payment.When a cheque is dishonoured, noting and protesting is not necessary/required. But when a bill of exchange is dishonoured, noting and protesting is necessary.When a cheque is dishonoured, the holder of the cheque need not give notice of dishonour to the drawer to make him liable on the cheque. But on the other hand, when a bill of exchange is dishonoured, notice of dishonour is to be given to all parties, including the drawer to make them liable on the instrument.A cheque can be crossed, but a bill of exchange needs no crossing.M. J. SUBRAMANYAM, BANGALORE
A bill of exchange is like a personal check. The person who wrote the check is instructing the bank (a third party) to cash the check for the payee. A promissory note is also a bill of exchange that instructs a person to pay a certain amount to another person.
what are the functions of future exchange?
what are the functions of the nigeria stock exchange.
bill of exchange
advantages of bill of exchange
documentary bill of exchange
The process of marketing is centered around the functions of exchange. The exchange of Goods and services with monitory, or general benefits to the company. The exchange function consists of 3 different functions: Buying , assembling and selling. These functions have a common feature in one respect, that they are directly concerned with the change in ownership of goods.
I wouls like to know what are the functions of a exchange coordinator?
investors can convert their shares by selling them to stock exchange
bill exchange is at an advantage of getting items by exchanging at a fair rate
difference between bill of exchange and promissory note?
A bill of exchange is a document demanding payment from another party, especially in international trade.
to exchange gases in the body.