Topic: Bills of Exchange

Q1

(a) Roy got a bill from Harry for the goods he supplied to Harry. However, Roy forgot to present the bill for payment on the due date. Discuss Roy's ability of claiming the funds over the bill.

(b) Assume you are writing a bill of exchange in favour of Sandy to repay a sum of money owed by you. Sandy is reluctant to accept the bill as she is not aware of the rights of a holder of a bill. How do you convince Sandy to accept the bill?