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What is dishonor of a bill?

dishonor
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What is dishonor of a bill?

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Dishonor of the bill: when the bill of exchange is not accepted or not paid on maturity the bill is said to hold been dishonored. From the above it is clear that the bill is dishonored on two accounts: a. Dishonor by non-acceptance b. Dishonor by non-payment Dishonor by non-acceptance:…

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