New Enroll in RBI Grade B New Batch - Starts on May 21

    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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