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Bills of exchange can be drawn payable to bearer . However,it cannot be payable to bearer on demand. What's the meaning of this
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Thread Starter
Shankari CWhich means ..we can draw saying ' payable to bearer' but actually can't pay to bearer ..am I right?
No. It means bill of exchange can be made payable to bearer after certain time but it cannot be made payable to bearer on demand
CA Suraj Lakhotia Admin
Only RBI can issue payable to bearer on demand. You can check a currency note
Which means ..we can draw saying ' payable to bearer' but actually can't pay to bearer ..am I right?
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