Explain: (a) Acceptance of bills of exchange. (b) General acceptance. (c) Qualified acceptance.

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问题 Explain:
(a) Acceptance of bills of exchange.
(b) General acceptance.
(c) Qualified acceptance.

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答案(a) Section 17 of the Bills of Exchange Ordinance stipulates that: the acceptance of a bill is the signification by the drawee of his assent to the order of the drawer. an acceptance is invalid unless it complies with the following conditions: (i) it must be written on the bill and be signed by the drawee. The mere signature of the drawee, without additional words, is sufficient. (ii) it must not express that the drawee will perform his promise by any other means than the payment of money. (b) A general acceptance assents without qualification to the order of the drawer. (c) A qualified acceptance in express terms varies the effect of the bill as drawn. Qualified acceptance may be: conditional, which makes payment by the acceptor dependent on the fulfillment of a condition therein stated; partial, which pays part only of the amount for which the bill is drawn. qualified as to time; local, which pays only at a particular specified place; the acceptance of some one or more of the drawees, but not of all.

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Explain: (a) Acceptance of bills of exchange. (b) General acceptance. (c) Qualified acceptance.

中级（法律）

原金融专业英语（FECT）

金融英语（FECT）

ARequiredReserveRatioisafractionofthedepositsofthepublicthatabankholdsinreserve.