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Bills of Exchange

Quiz by Carla Walcott

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5 questions
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  • Q1
    When it is time to pay a Bill of Exchange you
    You can take the person to court
    You can give excuses
    You are not required to pay on time
    Must pay on demand
    60s
  • Q2
    A bill of exchange is similar to which of the following instruments of payment
    Cards
    Electronic Fund Transfers
    Cash
    Cheques
    60s
  • Q3
    The person who makes the bill is
    Drawer
    Bill maker
    Payee
    Drawee
    60s
  • Q4
    The person who is taking the goods on credit is called
    Drawee
    Drawer
    Creditor
    Payee
    60s
  • Q5
    What are bills of exchange
    An unconditional order in writing by one party to pay the amount owed within a specified time or by a fixed date
    An unconditional order verbally demanding one party to pay the amount owed or he will take him to court
    An unconditional order by one party in writing telling the order party to pay when they feel
    A cheque
    60s

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