BUSINESS ADMINISTRATION
BUSINESS LAW
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Acceptor for honour
|
|
|
Acceptor for payment
|
|
|
Payment for honour
|
|
|
Holder
|
Detailed explanation-1: -“acceptor for honour”.-2 [When a bill of exchange has been noted or protested for non-acceptance or for better security], and any person accepts it supra protest for honour of the drawer or of any one of the indorsers, such person is called an “acceptor for honour”.
Detailed explanation-2: -A person coming forward to accept after it has been dishonoured by non payment is called acceptor for honour it is correct answer.
Detailed explanation-3: -An acceptor is the person (or bank) who is expected to pay a check or draft when it is presented for payment. Depository institutions have capital requirements that regulatory agencies have set in place to ensure that banks have enough capital to honor withdrawals if they sustain operating losses.