Trade Bill Accommodation Bill
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1 |
Trade bills are drawn
for trade purposes. |
1 |
Accommodation bills are drawn and accepted for financial assistance |
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2 3 |
These are drawn
against proper consideration. These bills are proof of debt |
2 3 |
These are drawn
in absence of any consideration These are not a proof of debt |
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4 |
If discounted full sum retains with holder of
the bill |
4 |
If discounted the amount may be divided between drawer and acceptor in pre- |
|
5 |
For obtaining the debt from drawee, drawer |
5 |
determined ratio. Legal action cannot be resorted for recovery |
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can
resort to legal action. |
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of amount against these bills by the immediate parties. |