Question

Conclusion of bill of exchange

Answer 1

A written order to a person requiring them to make a specified payment to the signatory or to a named payee; a promissory note.

Answer 2

Question

Conclusion of bill of exchange

Bill of exchange is a written, unconditional order by one party, drawer to the other party the drawee  to pay certain sum, either immediately or in a later fixed date.

This is usually done on the goods and services that are provided and received.

In conclusion, bill of exchange is suppose to be:-

1. Written
2. Unconditional
3. Have two parties that is the drawer, the drawee
4. It has to be immediately or on a later date that has to be mentioned

Goods or services must have been received for a bill of exchange to be written by the drawer to drawee.

This is a statement that is binding and hence unconditional , strictly to the terms and conditions of the business.