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      Question

      Which is not the essential characteristic of Bill of

      exchange:
      A Must be in writing Correct Answer Incorrect Answer
      B Must contain an express promise to pay Correct Answer Incorrect Answer
      C Instrument must be signed Correct Answer Incorrect Answer
      D Must be stamped Correct Answer Incorrect Answer

      Solution

      A bill of exchange contains an order to pay, not a promise. A promissory note contains an express promise to pay. Hence, option (b) is not an essential characteristic of a bill of exchange.

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