How a Bill of Exchange Functions: In order to fully grasp the transactions relating to bill of exchange we thoroughly learn the procedure. The following example will make it clear. Suppose A sells goods to the value of $500 to B. The most ready
Holder in Due Course
Holder in Due Course can explained that When a person takes a bill, complete and regular on the face of it and before its due date, in good faith and for valuable consideration he is called the holder in due course.