Which of the following is primarily liable on an accepted bill of exchange?
A) drawer of the bill
B) drawee or acceptor
C) endorser
D) payee
E) no one

Question

Quizplus · Accepted Answer

The drawee or acceptor of a bill of exchange is primarily liable, meaning they are legally responsible for payment of the bill. The drawer and endorser are secondarily liable, meaning they are only responsible for payment if the drawee or acceptor fails to pay. The payee is not liable for payment of the bill.

Which of the Following Is Primarily Liable on an Accepted