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A person can become an acceptor for honour of a bill of exchange only if his name is mentioned in the bill
True
False
Partly True
Partly False
- Option 1, True: A person can become an acceptor for honour only if they are explicitly named in the bill of exchange. However, this is not a requirement, as any third party can accept for honour as long as they have the consent of the holders of the bill.
- Option 2, False: It is not necessary for a person to be named in the bill to be accepted for honour. Any third party can intervene to accept the bill to save the credit of the drawer or any endorser.
- Option 3, Partly True: This could imply a condition where being named is sometimes needed, but it is not applicable here as naming is not required for acceptance for honour.
- Option 4, Partly False: This suggests a more complex understanding, which doesn't apply since naming in the bill is not a prerequisite.
Option 2 - False is correct as a person need not be mentioned in the bill to accept for honour. "."
By: santosh ProfileResourcesReport error
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