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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