On June 1, Rituparna Bought a Widget from Joel

Multiple Choice

On June 1, Rituparna bought a widget from Joel.The price was $75 000.On that same day, she gave him a bill of exchange for that amount that was drawn on the Bank of Brandon.Which of the following statements is TRUE?

A) Rituparna is the drawee, Joel is the payee, and the Bank of Brandon is the acceptor.
B) A bill of exchange must be payable on demand.
C) The Bank of Brandon owes Rituparna a legal duty to accept the bill if Joel's account balance is at least $75 000.
D) Unlike a cheque, a bill of exchange is automatically considered to be certified unless the relevant account is overdrawn.
E) June 1 is not necessarily the due date.