Question: Evaluate the following statement when a bill dishonoured by non-acceptance: I. When it is duly presented for acceptance and such an acceptance is refused or

Evaluate the following statement when a bill dishonoured by non-acceptance: I. When it is duly presented for acceptance and such an acceptance is refused or cannot be obtained II. When presentment for acceptance is excused, and the bill is not accepted. * Both statements are true. Both statements are false. Statement I is true; Statement II is false. Statement I is false; Statement II is true

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