1. Bill of exchange is an instrument in
writing, containing an unconditional order. (True)
2. A bill of exchange is signed by
the person on whom it is drawn. (False)
3. A person to whom or as per his order,
amount of bill is payable is a payee. (True)
4. Honour of a bill means payment in
accordance with the apparent tenor of the bill. (True)
5. Acceptance without making any change
in the terms of the bill is called general acceptance. (True)
6. Acceptance with some change as
regards the terms of a bill is called general acceptance. (False)
7. A bill of which payment to make
on fixed period is after date bill. (False)
8. Drawee is a person who holds the
title of the bill in due course. (False)
9. The inland bill which is drawn in and
payable in the same country. (True)
10. Discounting means encashment of the
bill before due date. (True)
11. Drawee can transfer the
ownership of the bill. (False)
12. Endorsee is person in whose favour
the bill is transferred. (True)
13. Endorsement means transfer of title
of the bill from debtor to creditor. (True)
14. Retirement of bill means payment of
the bill before due date. (True)
15. Noting charges are payable to
the Notary public on honour of a bill. (False)
16. Payee is official person appointed
by Central Government for noting of dishonour bill. (False)
17. Renewal is a request by drawee to
extend the credit period of the bill. (True)
18. A bill can't be deposited into
bank for collection. (False)
