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How is the bill of exchange considered as accepted?

9. How is the bill of exchange considered as accepted?

1. When issued by the Drawer.
2. When Drawee signs the bill.
3. When the bill of exchange is paid.
4. When the bill of exchange is renewed.

Answer: B) When Drawee signs the bill

Explanation:

The essentials of a substantial acknowledgement are that the acknowledgement should be composed on the actual charge and that it should be endorsed by the drawee or any approved individual for his sake since it is by marking the bill that the drawee implies his consent to the request for the cabinet; in any case, there is no legally binding risk.