New Enroll in RBI Grade B New Batch - Starts on May 21

    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.

    Practice Next