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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is meant by 'dishonor' of a bill of exchange?
💡 Hint: Think about the action of not honoring an agreement.
Question 2
Easy
Name one type of dishonor.
💡 Hint: Consider the scenarios where the bill is not paid.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What does dishonor mean in the context of bills of exchange?
- Acceptance of the bill
- Refusal to pay the bill
- Endorsement of the bill
💡 Hint: Think about the inability to meet a financial promise.
Question 2
True or False: Dishonor can occur only when a drawee refuses to accept the bill.
- True
- False
💡 Hint: Consider both acceptance and payment scenarios.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A company drew a bill for $5,000 from a buyer who later refused to pay, citing insufficient funds. Analyze the legal options available for the seller.
💡 Hint: Consider financial recourse and legal steps.
Question 2
Two businesses have an established trade relationship, but one has recently had several bills dishonored. Evaluate how this might affect future transactions.
💡 Hint: Think about the importance of trust in business agreements.
Challenge and get performance evaluation