What is Bill of Exchange and explain its special features
5 mark question?
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What is Bill of Exchange and explain its special features
5 mark question?
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Answer:
A bill of exchange an instrument in writing. It is drawn and signed by the maker i.e. drawer of the bill. It is drawn on a specific person i.e. drawee, to pay the specified amount. Contains an unconditional order to a person i.e. drawee.