explain in brief about endorsement of bill
Hi Pallavi, endorsement basically implies transferring a bill of exchange or promissory note to another person. Let's take an example to understand this term.
A is a person who draws a bill on B. B accepted the bill and returned it to A. A transferred the bill to his creditor, C. The term used to denote the transfer is endorsement. Thus, we can say that A has endorsed the bill to C.
In this case, A will become Endorser and C will become Endorsee
A is a person who draws a bill on B. B accepted the bill and returned it to A. A transferred the bill to his creditor, C. The term used to denote the transfer is endorsement. Thus, we can say that A has endorsed the bill to C.
In this case, A will become Endorser and C will become Endorsee