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Explain this line....

Priyanka Gupta (Articl tranee) (232 Points)

06 December 2009

Received acceptance of X to Y for 2 months.

Here please tell me who make the bill, who accept that bill.?

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15 Replies

(Guest)

i think Y is the drawer and X is d drawee, pl await other replies

Ram Avtar Singh (Nagari Sultanpur U.P.Delhi) (14477 Points)
Replied 06 December 2009

Amount payable by X to Y Received acceptance of X by Y for 2 months ...

read by this link illustration14

https://books.google.com/books?id=Kbwqvv24fg0C&pg=PT607&lpg=PT607&dq=Amount+payable+by+X+to+Y+Received+acceptance+of+X+by+Y+for+2+months+...&source=bl&ots=2Z-oMfMFi_&sig=SkKFX6BUsZkIVjVcChQU3opBR5c&hl=en&ei=XoEbS6u-HoHg7APzpJ3VDw&sa=X&oi=book_result&ct=result&resnum=1&ved=0CAgQ6AEwAA#v=onepage&q=Amount%20payable%20by%20X%20to%20Y%20Received%20acceptance%20of%20X%20by%20Y%20for%202%20months%20...&f=false

HIT ANSH (PCC STUDENT) (181 Points)
Replied 06 December 2009

Y GIVES MONEY TO X.....

AND Y DRAWS A BIL ON X AND X ACCEPT IT....

CA Surbhi Jain (CA) (89 Points)
Replied 06 December 2009

yes X is the drawee because he is giving acceptance... n Y is drawer

Sunali (Learner) (1317 Points)
Replied 06 December 2009

Originally posted by :surbhi jain
"	yes X is the drawee because he is giving acceptance... n Y is drawer	"

Agree..

Varsha (Accountant) (564 Points)
Replied 06 December 2009

me agree wid sunali...

(Guest)

y is drawer nd x is drawee .x accepted the bill

AHAMED. B (3 'C' - Final) (273 Points)
Replied 06 December 2009

All r correct... Its like this: Y gives money/sells good on credit to X. Instead of collecting d money on due date Y draws a bill and hence he is d 'drawer'. X accepts it. He is d 'drawee'.. X's bank wil make d payment. Hence it wil be d 'payee'. Later, on due date it wil collect from X.