Question

Give the performa of a Bill of Exchange.

Answer 1

Answer:

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Answer 2

Performa of a Bill of Exchange

Explanation:

Features of Bill of Exchange Format

• A bill must always be in writing.
• A bill is unconditional, that is, it is not subject to any condition. A bill is a Letter of Order. It is placed on the debtor by the creditor and is in the form of an order, not a demand.
• The drawer will sign a bill, as well as the drawee.  
• A bill is drawn out in the form of an order for paying a fixed sum of money.  
• A bill is payable, as the case may be, to the person specified therein, or to the order of the person mentioned, or to the bearer.
• A bill of exchange is payable on request or after the specified term has expired.
• A bill of exchange should be stamped correctly.  
• Writing "the value was received in the bill" on the face of the bill is preferable, although it is not required by law.