Hundis (Bills of Exchange)

Hundis (Bills of Exchange) - Short Notes

A hundi, also known as a bill of exchange, is a negotiable instrument used in financial transactions. It's a type of promissory note that facilitates the transfer of funds from one party to another. Hundis are commonly used in commercial and trade transactions, and they play a significant role in the Indian financial system.

Key Features:

1. Parties Involved:

   • Drawer: The party that creates the hundi and orders the payment. This is usually the creditor or the person to whom money is owed.
   • Drawee: The party upon whom the hundi is drawn. This ___ ___ _________ _____ _________ _____ _________ _________ _______ ___.
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