On presentation
On demand
On coming into vision
None of the above
Answer is Right!
Answer is Wrong!
The correct answer is: A. On presentation.
A bill of exchange is a negotiable instrument that orders the payer to pay a certain amount of money to the payee on demand or at a specified future date. The term “at sight” means that the bill of exchange is payable on presentation to the payer. This means that the payee can present the bill of exchange to the payer for payment at any time, and the payer is required to pay the amount of the bill.
The term “on demand” means that the bill of exchange is payable when the payee demands payment. This means that the payee can present the
bill of exchange to the payer for payment at any time, and the payer is required to pay the amount of the bill.The term “on coming into vision” is not a legal term, and it is not used in the Negotiable Instruments Act, 1881.
I hope this helps!