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Give one word/phrase/term which can substitute each of the following statements:i. A bill is drawn, accepted, and made payable within the territory of one and the same country.ii. Selling a bill to the bank before its due date for an amount slightly less than its face value.iii. Act of signing the bill on its back by its holder to transfer its title to a third Person.iv. Discount is given by holder to acceptor on the retirement of the bill of exchange.v. Non-payment of the bill on the due date. |
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Answer» i. Inland bill of exchange ii. Discounting of a bill of exchange iii. Endorsement of a bill of exchange iv. Rebate v. Dishonour of a bill of exchange |
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