Challenger App

No.1 PSC Learning App

★
★
★
★
★
1M+ Downloads
In the case of handling bills of exchange for collection the relationship between the customer and banker..

APrincipal and agent

BDebtor and creditor

CBailee and Bailor

DTrustee and Beneficiary

Answer:

A. Principal and agent

Read Explanation:

When a bank collects bills on behalf of a customer, it acts as the agent of the customer (the principal) and does not become the owner of the bills.


Related Questions:

----------is a condition in which there is an immediate decline in the availability of loan or credit.
Garnishee order is to restrain a banker from
What term describes the process through which one account holder authorizes another to act on their behalf on by way of a simple authority letter ?
As per the latest guidelines, a savings or a current account is classified as 'inoperative' or 'dormant' if there are no transactions in the account for over a period of.............. years
Mr A is adjudged as insolvent, He maintains the following accounts in your bank. You will stop operation of :