Explain the various forms of a qualified acceptance of a bill of exchange

A qualified acceptance of a bill of exchange varies or modifies the terms of a bill.
Such an acceptance may take the form of
o Conditional:payment the acceptor is dependent on the fulfillment of a condition.
o Partial: this is an acceptance to pay part of the amount for which the bill is drawn.
o Local:this is an acceptance to pay only at a particular specified place.
o Qualified as to time
o Acceptance one or more drawers but not all.



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