Question

Under Section 5, a bill of exchange contains an order to pay made by whom?

Q: Answer-Under Section 5, a bill of exchange contains an order to pay made by whom?

Section 5 of the Negotiable Instruments Act defines a bill of exchange as an instrument in writing containing an unconditional order, signed by the maker the drawer, directing a certain person the drawee to pay a certain sum of money only to, or to the order of, a certain person or to the bearer. The drawer makes the order, the drawee is directed to pay, and the payee receives payment. Acceptance by the drawee makes the bill binding on the acceptor.