As per Negotiable Instruments Act 1881, a 'Bill of

Q: Answer-As per Negotiable Instruments Act 1881, a 'Bill of Exchange' is:

S. 5. Bill of exchange.A bill of exchange is an instrument in writing containing an unconditional order, s igned by the maker, directing a certain person to pay a certain sum of money only to, or to the order of, a certain person or to the bearer of the instrument..

Exchange' is:

A A Conditional promise to pay Correct Answer Incorrect Answer

B An Unconditional order to pay Correct Answer Incorrect Answer

C An Unconditional promise to pay Correct Answer Incorrect Answer

D None of the above. Correct Answer Incorrect Answer

Solution

S. 5. “Bill of exchange”.—A “bill of exchange” is an instrument in writing containing an unconditional order, s igned by the maker, directing a certain person to pay a certain sum of money only to, or to the order of, a certain person or to the bearer of the instrument………..

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