A bill of exchange already accepted can be discounted by the holder in ______?
Question 1 Report
A bill of exchange already accepted can be discounted by the holder in ______?
Answer Details
A bill of exchange already accepted can be discounted by the holder in any bank.
A bill of exchange is a financial instrument that allows the holder to receive a certain amount of money on a specified date. When the holder needs money before the due date, they can discount the bill at a bank. This means that the holder will receive a lesser amount of money upfront in exchange for the right to receive the full amount on the due date. The holder can discount the bill in any bank, not necessarily his own bank, as long as the bank is willing to accept the bill as collateral for a loan.
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