Which of the following exists if the maker of a promissory bill fails to pay the bill on the due date?
A)A depreciated bill
B)A dishonoured bill
C)An amortised bill
D)A discounted bill

Question

Quizplus · Accepted Answer

When the maker of a promissory bill fails to pay the bill on the due date, the bill is considered dishonoured. This means that the holder of the bill can take legal action to recover the amount owed. A depreciated bill refers to a bill whose value has decreased over time, an amortised bill refers to a bill whose principal amount is paid off gradually over time, and a discounted bill refers to a bill that has been sold at a discount before its due date. None of these options are relevant to a situation where a bill is unpaid on its due date.

Which of the Following Exists If the Maker of a Promissory