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

    Question

    The holder must allow the drawee of a bill of exchange

    ……….. to consider whether he will accept it or not.
    A Twenty-four hours Correct Answer Incorrect Answer
    B Forty-eight hours Correct Answer Incorrect Answer
    C Three days Correct Answer Incorrect Answer
    D One week Correct Answer Incorrect Answer
    E Five days Correct Answer Incorrect Answer

    Solution

    Section 63 of NI Act Drawee’s time for deliberation—The holder must, if so required by the drawee of a bill of exchange presented to him for acceptance, allow the drawee forty-eight hours (exclusive of public holidays) to consider whether he will accept it.

    Practice Next

    Relevant for Exams: