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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Who is the payee in a bill of exchange?
💡 Hint: Think about who benefits from the bill.
Question 2
Easy
What does endorsement mean?
💡 Hint: Consider how rights are passed along.
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
Who is entitled to receive payment in a bill of exchange?
- Drawer
- Drawee
- Payee
- Endorser
💡 Hint: Remember the party that benefits from the transaction.
Question 2
True or False: The payee can also be the drawer.
- True
- False
💡 Hint: Think about who can receive the money.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A company draws a bill of exchange with themselves as the payee but later endorses it to a service provider. The drawee refuses the payment. Analyze what rights the service provider has now, and discuss potential ramifications.
💡 Hint: Consider the chain of endorsements and who has legal ground.
Question 2
Scenario: A payee receives a bill but fails to present it to the drawee on the due date. Examine the consequences for the payee.
💡 Hint: Think about the importance of timelines in contracts.
Challenge and get performance evaluation