This is a para from padhuka-law,IPCC,PAGE 2.4
ACCOMODATION BILL
(A) A bill is said to be a accomodation bill when it is made or drawn without consideration.
(B) It creates no obligation between the parties in absence of consideration.
(C) The purpose of making an accomodation B/E is to enable some party to the instrument raise money based on such B/E
My doubt
I understood what is an accomodation bill but the what is its use?...third point is my doubt..plz explain...if u can plz explain a little bit in hindi...thanks a lot
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