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      Question

      As per Negotiable Instruments Act 1881, a 'Bill of

      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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