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Banking Class XII Banking Notes | HSC 2 Class Notes, 2nd year Notes of Banking


Essentials of a Bill of Exchange

Banking


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Old 03-18-2010, 04:29 AM   #1 (permalink)
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Default Essentials of a Bill of Exchange

Question 18 - Essentials of a Bill of Exchange

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Q.18. What are the essentials of a bill of exchange?


ESSENTIALS OF A BILL OF EXCHANGE

The following are the essentials of a bill of exchange.

i. It must be in writing.

ii. It must be an unconditional order to pay.

iii. It must be signed by the maker.

iv. It must be addressed by one person to another.

v. It must be written for some certain sum of money.

vi. It must be payable on demand.

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