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P2 C4 Bills of Exchange — Account STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceAccountP2 C4 Bills of Exchange1 Mark
Question
What do you mean by renewal of a bill?
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Answer

Renewal of a bill means cancellation of original bill and drafting a new bill in exchange of that by drawer at the request of drawee.

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