Doubt-negotiable instruments act

646 views 2 replies

This is a para from padhuka-law,IPCC,PAGE 2.4

ACCOMODATION BILL

(A) A bill is said to be a accomodation bill when it is made or drawn without consideration.

(B) It creates no obligation between the parties in absence of consideration.

(C) The purpose of making an accomodation B/E is to enable some party to the instrument raise money based on such B/E

 

My doubt

I understood what is an accomodation bill but the what is its use?...third point is my doubt..plz explain...if u can plz explain a little bit in hindi...thanks a lot

Replies (2)

It is used for mutual help of finance between two or more parties who in return bear the proportionate share of the discount charged by the bank according to the share of net recipts form such bill they have share...

always an accomodation bill is get discounted from he bank...

 

I am sorry par samajh nai aaya.....plz explain with an example...the question is how can money be raised if their is no consideration or obligation between parties

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
24 June 2026
Senior Account (VA Client Operations)

Karbon Business

Bengaluru

CA Inter

View Details
Company
10 June 2026
Senior Account Executive

JDS Advisory LLP

Ahmedabad

CA Inter

View Details
Company
19 June 2026
Accounts Executive

Getfive Advisors Pvt. Ltd.

Ahmedabad

CA Inter

View Details
Company
12 June 2026
Accounts & Taxation Executive

Winshine Financial Services

Mumbai

CA Inter

View Details
Company
20 June 2026
Chartered Accountant

ANV & Company

New Delhi

CA

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details
Company
29 June 2026
Accountant (Finance & Compliance)

TRIEYEZ

Kolkata

CA

View Details
Company
22 June 2026
Accountant

Global Image Technologies Private Limited

New Delhi

MBA

View Details