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Bills of Exchange Test 15

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Bills of Exchange Test 15
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Weekly Quiz Competition
  • Question 1
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    If the buyer obtains delivery of goods before arrival at the destination, transit
  • Question 2
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    In which of the following cases acceptance of goods by the buyer is deemed a valid acceptance
  • Question 3
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    When a BR is dishonoured, Bills receivable a/c is debited by.....
  • Question 4
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    All instruments which are not instrument are foreign bills.

  • Question 5
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    X draws a $$30$$ days bill of exchange for Rs.$$25,000$$ upon Y on $$15-8-14$$ find the due date of the bill.
  • Question 6
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    Which of the following is a foreign Bill.
  • Question 7
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    X draw a bill of exchange on Y for Rs. 20,000 payable in 3 months. On the due date Y could not make the payment and Y got it notified from the Notary public on payment of noting charges of Rs. 100. Y requested him to draw a fresh bill for another two month at 12% interest p.a. The amount of fresh bill will be
  • Question 8
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    Which of these are not essential elements of the representation
  • Question 9
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    A __________ is a Bill of exchange drawn on a specific bank and not expressed to be payable otherwise than on demand.
  • Question 10
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    A Consignor is entitled to ........
    Solution
    A consignor is an individual or party that brings a good to be sold on their behalf by another party, which is called the consignee.
    Consignor is entitled to profit on consignment whereas consignee is entitled to commission on sales, del crede commission, and reimbursement of expenses.
    Therefore C is the correct option.
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