Who are the parties in a bill of exchange?

Option A: Drawer & Drawee

Option B: Payee

Option C: Both (a) and (b)

Option D: None of the above

Correct Answer

Option: c

Explanation

Both (a) and (b). Parties in a bill of exchange are Drawer & Drawee and Payee Section 7 of NI Act, 1881 defines “Drawer” “Drawee” – The maker of a bill of exchange or cheque is called the “drawer”; the person thereby directed to pay is called the “drawee”. “Payee” – The person named in the instrument, to whom or to whose order the money is by the instrument directed to be paid, is called the “Payee”

Sample Mock Tests for Practice

HIMACHAL PARDESH LOWER JUDICIAL SERVICES 2013

GUJRAT LOWER JUDICIAL SERVICES 2019

The Hindu Marriage Act, 1955 (Paper 02: Q. 26 TO 50)

THE SPECIFIC RELIEF ACT, 1963 (PAPER – 05 Q. NO. 141 TO 175)

THE HIMACHAL PRADESH URBAN RENT CONTROL ACT, 1987 (PAPER 02 Q. NO. 31 TO 60)

JHARKHAND LOWER JUDICIAL SERVICES 2019

THE SPECIFIC RELIEF ACT, 1963 (PAPER – 01 Q. NO. 1 TO 35)

THE INDIAN CONTRACT ACT, 1872 (PAPER – 08 Q. NO. 246 TO 280)

THE CODE OF CIVIL PROCEDURE, 1908 (PAPER – 03 Q. NO. 81 TO 120)

THE CODE OF CIVIL PROCEDURE, 1908 (PAPER – 22 Q. NO. 841 TO 874)

CLAT 2015

THE CONSTITUTION OF INDIA, 1949 (PAPER – 16 Q. NO. 526 TO 560)

THE LAW OF TORTS (PAPER 01 Q. NO. 1 TO 45)

THE CODE OF CIVIL PROCEDURE, 1908 (PAPER – 09 Q. NO. 321 TO 360)

THE NEGOTIABLE INSTRUMENTS ACT, 1881 (PAPER 04 Q. NO. 121 TO 135)

AIBE XVII 2023 (BCI-FEB-2023-SET-A) (ALL INDIA BAR EXAM 2023)

UTTARAKHAND LOWER JUDICIAL SERVICES 2018

AILET – National Law University Delhi Entrance Test (NLU 2012)

HIMACHAL PARDESH LOWER JUDICIAL SERVICES 2012

CLAT 2016

BIHAR LOWER JUDICIAL SERVICES EXAM 2020

THE CODE OF CIVIL PROCEDURE, 1908 (PAPER – 06 Q. NO. 201 TO 240)

THE CONSTITUTION OF INDIA, 1949 (PAPER – 18 Q. NO. 596 TO 623)

THE INDIAN EVIDENCE ACT, 1872 (PAPER – 12 Q. NO. 441 TO 480)

AILET – National Law University Delhi Entrance Test (NLU 2020)

AIBE-XIII-2018-II (BCI-DEC-2018-SET-A) (ALL INDIA BAR EXAM 2018-II)

THE INDIAN EVIDENCE ACT, 1872 (PAPER – 09 Q. NO. 321 TO 360)

AILET – National Law University Delhi Entrance Test (NLU 2023)

CLAT 2020

THE COPYRIGHT ACT, 1957 (PAPER 01 Q. NO. 1 TO 7)

THE CODE OF CIVIL PROCEDURE, 1908 (PAPER – 15 Q. NO. 561 TO 600)

THE HIMACHAL PRADESH URBAN RENT CONTROL ACT, 1987 (PAPER 03 Q. NO. 61 TO 90)

THE ARBITRATION AND CONCILIATION ACT, 1996 (PAPER 04 Q. NO. 91 TO 116)

MADHYA PARDESH LOWER JUDICIAL SERVICES 2001

THE HINDU ADOPTION AND MAINTENANCE ACT, 1956 (PAPER 02 Q. NO. 31 TO 39)

THE HINDU SUCCESSION ACT, 1956 (PAPER 01 Q. NO. 1 TO 35)