Which of the following about bank bills is NOT correct?

Multiple Choice

• With a bank as an acceptor, it makes it easier to sell the bill at a higher yield.

• For a bank bill, the drawer has the secondary liability to pay the holder of the bill at maturity.

• A commercial bank generally carries out the role of an acceptor on a bill.

• When the discounter discounts the face value of the bill they provide the funds to the borrower.

• NO4