What is a Bill of Exchange and How is it Discharged?

  1. ngureco profile image82
    ngurecoposted 8 years ago

    What is a Bill of Exchange and How is it Discharged?

  2. profile image48
    jennismortalposted 8 years ago

    If the holder of a bill of exchange allows the drawee more than one hours, exclusive of public holidays, to consider whether he will accept the same, all previous parties not consenting to such  allowance  are thereby discharged  from liability  to such holder. When cheque not duly presented and drawer damaged thereby.   Where a cheque is not presented for payment within a reasonable time of its issue, and the drawer or person on whose account it is drawn had the right, at the time when presentment ought to have been made, as between himself and the banker, to have the cheque paid and suffers actual damage through the delay, he is discharged to the extent of such damage, that is to say, to the extent to which such drawer or person is a creditor of the banker to a larger amount than he would have been if such cheque had been paid.
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