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What is Endorsement Of Bill?

19. What is Endorsement Of Bill?

1. Extra days following the due date of the bill for making payment.
2. The procedure by which the holder of the bill transfers the title of the bill with the assistance of his creditors.
3. The date of drawing plus the terms of the bill.
4. The date of acceptance plus terms of the bill.

Answer: B) The procedure by which the holder of the bill transfers the title of the bill with the assistance of his creditors

Explanation:

Endorsement of the bill suggests the system by which the creator or holder of the bill moves the title of the bill with help of his/her lenders. The individual moving the title is classified "Endorser" and the person to whom the bill is traded is called "Endorsee". An underwriting is finished by marking at the rear of the bill.