Types of credit are classified on different basis according to their use on the basis of credit's maturity and the nature of the debtor.
Dishonor of Cheque
There are a number of reasons for dishonor of cheque and without any valid reason, the bank never refused to make payment. If the bank for a valid reason refuses to make the payment of a cross cheque, this cheque is called a “Dishonored Cheque”. It is the duty of the bank to honor the cheque of his clients if complete or valid in all respects. However, the bank can refuse to make the payment of a cheque in the following cases:
To discuss Types of inflation, firstly we should know what inflation is? Inflation is basically the quick movement in the general pricing level. When prices of the products go up with every passing day and the income of the people started going down, then this situation leads to inflation.
To understand what the different types of securities are? Firstly we should know about what security is? The words security means safety or guarantee of any kind, which may be verbal, personal, or in the form of any property. It is essential for a creditor to secure his loan or advances through different securities. Security is a right possessed by a creditor in property or anything to convert the same into cash if the debtor fails to refund the amount advanced with interest.
A promissory note is a simple kind of instrument of credit in which the debtor himself makes a promise to his creditor to pay the amount of money at the promised date. To make this document legal, the revenue stamps are affixed according to the value of the promissory notes.