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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What happens in non-acceptance of a bill?
💡 Hint: Think about the first step of commitment.
Question 2
Easy
Name one consequence of dishonor.
💡 Hint: Consider what happens when a bill isn’t honored.
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 non-acceptance in the context of dishonor?
- A refusal to pay
- A refusal to accept the bill
- A delay in payment
💡 Hint: Focus on the drawee's actions.
Question 2
True or False: Non-payment occurs when the drawee accepts the bill but refuses to pay.
- True
- False
💡 Hint: Think about when payment fails after acceptance.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A company draws a bill on a client who refuses to accept it citing a vague reason. Discuss the ramifications for the company and possible actions they can take.
💡 Hint: Reflect on the importance of clarity in business agreements.
Question 2
If a drawee accepts a bill but fails to pay, analyze what actions the holder could pursue to recover their payment.
💡 Hint: Think about the sequential steps of creditor remedies.
Challenge and get performance evaluation