1251. A promissory note is written by:
A. Debtor *
B. Creditor
C. Bank
D. Agent
1252. Promissory note is a written promise between:
A. Four parties
B. Three parties
C. Two parties *
D. Five parties
1253. A promissory note should be :
A. Oral
B. Written *
C. Verbal
D. None of the above
1254. Accommodation bills are drawn and accepted for :
A. Financial assistance *
B. Consideration
C. Debt
D. Loan
1255. In case, of bill of exchange for obtaining the debt, legal action can be resorted by:
A. Drawer *
B. Drawee
C. Banker
D. Endorsee
1256. The due date of a bill of exchange, when the amount of the bill is payable by the drawee, is called the :
A. Acceptance date
B. Maturity date *
C. Dishonoured date
D. Bill written date
1257. In case of bill of exchange , every bill has to be accepted by the :
A. Drawer
B. Bank
C. Drawee *
D. Agent
1258. A liability that will only arise if a certain event occurs, is called :
A. Contingent liability *
B. Mutual liability
C. Future liability
D. None of the above
1259. When a bill is dishonoured , the holder of the bill, goes to, an official called:
A. Clerk
B. Notary public *
C. Inspector
D. Agent
1260. In case of dishonour the notary public will charge a small fee from the holder, is known as :
A. Interest
B. Rebate
C. Nothing charges *
D. Discount