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Why Bills Of Exchange? (Basic Concepts, Features)

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Why Bills Of Exchange? (Basic Concepts, Features)

       MEANING

Section 5 of Negotiable Instruments Act 1881 defines the bills of exchange, “As an instrument in writing containing an unconditional order signed by the maker directing a certain person to pay a certain sum of money only to the order of the certain person or to the bearer of the instrument.”

Bills of exchange is of real use only when the other party accepts& signs the “BILL” drawn to him.

For Example –  For example, Sapan Parikh orders Bunty Parikh to pay ₹ 50,000 for 90 days after date and Bunty accepts this order by signing his name, then it will be a bill of exchange.

        FEATURES OF BILLS OF EXCHANGE

  •  A bill of exchange is an instrument in writing
  • The bill must be signed by both Drawer & Drawee
  • There should be no condition in the order
  • Amount stated on the bill should be paid on time
  • Payment should be paid by one’s country’s legal currency
  • Order should be for the payment of money only
  • Confirm order should be there to make a payment
  • Amount of the bills of exchange should be definite

Now, there might be question in your mind Why Bills Of Exchange?

Bills Of Exchange makes sure that trade credit is carried out in lawful manner between the parties involved in the agreement. (Parties i.e. Drawer, Drawee).

To make it more easy to understand, It’s just like I purchased 50 chocolates from you on credit. Now, there has to be something in written to ensure that I pay you as a Proof.

That’s it! There’s nothing complicated in it & if you want to look out for examples & much more,

Do watch out this video Here.

Also, if you are a commerce student in 11th or 12th Std, Do watch out our FREE VIDEOS on Accounting. If you have any doubt, write in comments section & will reply to you within 24 hrs.

 

WATCH OUR FREE VIDEOS ON ACCOUNTING HERE!

 

 

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    Además, los sistemas de equilibrado tienen una extensa utilización en el sector de la seguridad y el monitoreo de excelencia. Posibilitan localizar probables fallos, previniendo reparaciones onerosas y perjuicios a los aparatos. Además, los datos generados de estos equipos pueden usarse para maximizar sistemas y aumentar la reconocimiento en buscadores de exploración.

    Las sectores de uso de los dispositivos de ajuste cubren diversas sectores, desde la elaboración de ciclos hasta el monitoreo ecológico. No influye si se considera de extensas fabricaciones manufactureras o reducidos establecimientos hogareños, los dispositivos de equilibrado son esenciales para proteger un desempeño eficiente y libre de detenciones.

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  718. 民営化前を含むそれ以前の加入通知では、全銀システム用の口座番号はもとより、カナ表記がなされていなかったが、全銀システムの関係上、カナ表記を割り当てる必要があったため、サービス開始前に全銀システム用の口座番号が圧着ハガキで通知されることになった際、カナ表記も通知され、特に法人名に関しては、表記変更が必要か否か（「カフ゛シキカ゛イシヤ」を「カ）」などの略称標記にする必要があるかなどを含む）の確認（変更の場合は、要届出となった）も要請されていた。 この著作物は、アメリカ合衆国外で最初に発行され（かつ、その後30日以内にアメリカ合衆国で発行されておらず）、かつ、1978年より前にアメリカ合衆国の著作権の方式に従わずに発行されたか1978年より後に著作権表示なしに発行され、かつ、ウルグアイ・

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