Q. Under the Negotiable Instruments Act, 1881, whether acceptance of a bill of exchange in the following situation shall be treated as qualified acceptance where the acceptor (Solved)
1. undertakes to pay only `10,000 for a bill drawn for `15,000.
2. declares the payment to be independent of any other event.
3. writes, ‘Accepted, payable at ABC Bank’.
4. writes, ‘Accepted, payable at Delhi’.
- a. undertakes to pay only `10,000 for a bill drawn for `15,000.