Bills of exchange issued by a non-bank drawer to raise funds for its business purposes and accepted by a non-bank corporation are:

Question

Quizplus · Accepted Answer

Bills of exchange issued by a non-bank drawer and accepted by a non-bank corporation are known as commercial bills, which are widely used in trade finance to raise funds for business purposes. Corporate bonds and rights issue are both different types of debt securities issued by corporations to raise funds but are not bills of exchange.

Bills of Exchange Issued by a Non-Bank Drawer to Raise