Aims and objectives of bill of exchange for hsc project
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A Bill of Exchange is an unconditional written order that aims at making a person pay another person or the bearer of the instrument the amount mentioned. The bill is valid only if the person making it signs on the bill.
The objectives of a Bill of Exchange are to:
*Grant the credit for trade lawfully by making payments on prospective agreed dates.
*Provide the seller with finance by transferring their debts to a bank.
*Allow the financier to have a legal claim on both the buyer and seller.
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