Acceptance of bill of exchange could either be general or qualified.
Identify four examples of qualified acceptance of a bill of exchange
Examples of a qualified acceptance to a bill of exchange
- Conditional: Where the drawee specifies a condition subject to which he is bound by its terms
- Partial: The drawee accepts to pay part of the sum
- Local: The drawee accepts to pay the bill at a specified place.
- Time: The drawee changes the time of payment Acceptance by some not all drawers.