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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Who is the person who writes and signs the bill?
💡 Hint: They request payment from the drawee.
Question 2
Easy
What term describes the entity expected to make the payment?
💡 Hint: They are responsible for paying the amount on the 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 is the role of the drawer in a Bill of Exchange?
- They receive payment
- They pay the bill
- They create the bill
💡 Hint: Think about who initiates the payment process.
Question 2
True or False: The drawee has no obligation to pay if they do not accept the Bill.
- True
- False
💡 Hint: Consider what acceptance means in the context of a Bill.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Create a commercial scenario involving a drawer, a drawee, and a payee, and explain how the interactions impact cash flow management for a business.
💡 Hint: Focus on how deferred payments can help the businesses manage their finances.
Question 2
If an endorser transfers rights to an endorsee, what legal implications arise if the drawee fails to pay the bill?
💡 Hint: Consider who carries the risk in such scenarios.
Challenge and get performance evaluation