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What is meant by renewal of a bill of exchange? - Accountancy

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प्रश्न

What is meant by renewal of a bill of exchange?

संक्षेप में उत्तर
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उत्तर

Renewal of bill of exchange refers to the request made by the drawee to consider his/her inability to pay the due amount of sum on the due to the drawer.

The drawee payment for the extended date.

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