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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 role of the drawee regarding payment.
Question 2
Easy
Name two types of dishonor.
💡 Hint: Recall what happens when a drawee first sees a bill.
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 relation to a bill of exchange?
- Accepting the bill
- Refusal to pay
- Negotiating terms
💡 Hint: Focus on the payment context and the drawee's actions.
Question 2
True or False: Non-acceptance occurs when the drawee agrees to pay the bill.
- True
- False
💡 Hint: Consider what it means to accept a bill.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A bill of exchange was drawn for $10,000 and accepted by the drawee. However, when the bill was presented for payment, the drawee claims insufficient funds. What should the holder do next?
💡 Hint: Consider the rights a holder has after a dishonor.
Question 2
After a bill of exchange is dishonored due to non-acceptance, the drawer is concerned about how this will affect their business credibility. Discuss potential impacts and necessary actions the drawer can take.
💡 Hint: Think about the broader implications of financial transactions.
Challenge and get performance evaluation