What is meant by acceptance of a bill of exchange? (2024)

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Bill of Exchange(BOE)

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When a bill was drawn by the creditor upon his debtor, it has to be accepted by the debtor or someone on his behalf. The acceptance made by debtor makes draft a bill.


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What Are the Three Parties to the Bill of Exchange?Bill Of Exchange | Meaning, Format & TypesA bill of exchange does not require __________.acceptancepayable to bearercrossinggrace periodWhat Is the Person Who Draws a Bill of Exchange Known as?

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