Do you agree or disagree with the following statement
1) A bill of exchange is a conditional order.
Ans:- Disagree
2) The party which is ordered to pay the amount is known as the payee.
Ans:- Disagree
3) The person in whose favour the bill is endorsed is known as endorsee.
Ans:- Agree
4) Rebate or discount given on retiring a bill is an income to the Drawee.
Ans:- Agree
5) A bill from the point of view of debtor is called Bills payable.
Asn:- Agree
6) In case of bill drawn payable ‘on-demand,’ no grace days are allowed.
Ans:- Agree
7) A bill is required to be accepted by Drawer
Ans:- Disagree
8) A bill of exchange need not be dated.
Ans:- Disagree
9) A bill before acceptance is called Promissory Note.
Ans:- Disagree
10) Renewal is request by Drawee to extend the credit period of the bill.
Ans:– Agree