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Prashant Singh

· started a discussion

· 1 Months ago

Wrong.... (Question: 112737.0 )

only Cheque has Drawer,drawee n Payee

Question:
In which of the following negotiable instruments there are three parties – Drawer, Drawee and Payee?
Options:
A)

Promissory notes

B) Bill of Exchange
C) Hundi
D) Currency
E)

None of these

Solution:
A Bill Of Exchange is a negotiable instrument which has three parties – Drawer, Drawee and Payee

Knowledge Expert

· commented

· 1 Months ago

A bill of exchange requires in its inception three parties—the drawer, the drawee, and the payee. The person who draws the bill is called the drawer. He gives the order to pay money to the third party. The party upon whom the bill is drawn is called the drawee.
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