Question

The act of giving consent to the bill by the drawee by putting his signature on the face of the bill with or without the word accepted is known as ----.

• A. endorsement of a bill
• B. acceptance of a bill
• C. negotiation of a bill
• D. dishonor of a bill

Answer 1

Answer:

B. acceptance of a bill

ACCEPTANCE OF A BILL:

• The act of giving consent to the bill by the drawee by putting his signature on the face of the bill with or without the word accepted is known as acceptance of a bill.

• A bill before acceptance is called a draft.

• After acceptance drawee can also be called Acceptor.