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What is an Inland Bill?

5. What is an Inland Bill?

1. Bill of exchange drawn on and accepted by a trader in payment for goods
2. Bill of exchange that is drawn in one jurisdiction and payable within another.
3. Bill of exchange that is or on its face purports to be both drawn and payable within the jurisdiction.
4. Bill endorsed by one person for another without consideration to enable that other to raise money or obtain credit thereby.

Answer: C) Bill of exchange that is or on its face purports to be both drawn and payable within the jurisdiction

Explanation:

Inland bills are drawn between two gatherings that are found or live in a similar nation and subsequently are made payable in a similar country.