Question

is bill of exchange important for class 12?​

Answer 1

Answer:

Yes, it is also important for 12th standard.

Answer 2

Answer:

Features of Bill of Exchange

It is important to have a bill of exchange in writing

1) It must contain a confirm order to make a payment and not just the request

2) The order should not have any condition

3 ) The bill of exchange amount should be definite

4) Fixed date for the amount to be paid

5) The bill must be signed by both the drawee and the drawer

6) The amount stated on the bill should be paid on-demand or on the expiry of a fixed time

7) The amount is paid to the beneficiary of the bill, specific person, or against a definite order