Question

How many parties are involved in a Bill of Exchange?

A 5 Correct Answer Incorrect Answer
B 4 Correct Answer Incorrect Answer
C 3 Correct Answer Incorrect Answer
D 2 Correct Answer Incorrect Answer

Solution

A Bill of Exchange involves three parties: Drawer: The person who creates and issues the bill. Drawee: The person or entity on whom the bill is drawn, and who is expected to make the payment. Payee: The person to whom the payment is to be made, often the same as the drawer or a third party nominated by the drawer.

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