A bill of exchange must be presented to the acceptor on the due date.

Question

State whether the following statements are True or False with reasons:

A bill of exchange must be presented to the acceptor on the due date.

Answer 1

This statement is True.

To get the payment of the bill from the acceptor, the holder of the bill is required to present it to the acceptor on its due date. Acceptor either honours the bill or dishonours the bill.