Exercise1 一、Make choice of whether the following bills are acceptable or not. Mark X before acceptable or unacceptable you chose. (1) A bill shows: pay to ABC Co. providing the goods in compliance with contract the sum of one thousand US Dollars. It is acceptable / unacceptable. (2) A bill shows: pay to ABC Co. the sum of ten thousand US dollars on condition that shipment of goods has been made. It is acceptable / unacceptable. (3) A bill shows: On demand pay to the order of ABC Co. the sum of twenty thousand US dollars drawn against shipment of 10bales cotton piece goods from Tianjin to London. It is acceptable / unacceptable. (4) A bill shows: pay to ABC Co. out of proceeds of sale of woollen blankets the sum of one thousand US dollars. It is acceptable / unacceptable. (5) A bill shows: pay from our No. 2 account to ABC Co. the sum of one thousand US dollars. It is acceptable /unacceptable. (6) A bill shows: pay to ABC Co. or order the sum of one thousand pounds and debit our No. 2 account. It is acceptable / unacceptable. (7) A bill shows :after customs clearance pay to the order of ABC Co. the sum of twenty thousand US dollars. It is acceptable / unacceptable. (8) A bill shows: pay to Mary the sum of fifty pounds and give her a suit of clothes. It is acceptable /unacceptable. (9) A bill shows: pay to the order of ABC Co. the sum of one thousand pounds plus interest. It is acceptable / unacceptable. 二、(1) A bill is payable at XX days after sight, what date is the day from which time of payment begins to run? The date of acceptance (2)A bill is payable at XX days after date, what date is the day from which time of payment begins to run? The date o...
