A BILL OF EXCHANGE IS AN ___________ INSTRUMENT
A) unconditional
B) conditional
C) both
D) none of these
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Answer:
A) Unconditional.
Explanation:
According to the Negotiable Instruments Act 1881, 'a bill of exchange is defined as an instrument in writing containing an unconditional order, signed 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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