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 One week Correct Answer Incorrect Answer
    B Three days Correct Answer Incorrect Answer
    C Twenty-four hours Correct Answer Incorrect Answer
    D Forty-eight hours 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.

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