Where a bill of exchange is used in a purchase and sale transaction for goods sold on credit terms,the bill is "accepted" by the

Question

Quizplus · Accepted Answer

The buyer is the one who accepts the bill of exchange in a purchase and sale transaction for goods sold on credit terms. They are essentially agreeing to pay the seller a certain amount at a future date, as specified in the bill. The seller may present the bill to their bank for collection, but it is the buyer who accepts it.

Where a Bill of Exchange Is Used in a Purchase