A bill of exchange is called a ____ by one who is liable to pay it on the due date

A. Bill receivable

B. Noted bill of exchange

C. Bill payable

D. None of the above

Answer: Option C

Solution(By Examveda Team)

A bill of exchange is called a Bill payable by one who is liable to pay it on the due date. It is a written, unconditional order by one party (the drawer) to another (the drawee) to pay a certain sum, either immediately (a sight bill) or on a fixed date (a term bill), for payment of goods and/or services received.