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

    Question

    In relation to Bills of Exchange, which of the following

    statements is INCORRECT? 
    A Payer is the person to whom the amount of bill is payable. Correct Answer Incorrect Answer
    B Drawer is a person who draws the bill. Correct Answer Incorrect Answer
    C Endorsee is the person in whose favour the bill is endorsed by the drawer. Correct Answer Incorrect Answer
    D Drawee is the person on whom the bill is drawn. Correct Answer Incorrect Answer

    Solution

    The correct answer is A

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