Question

Mention various characteristics of bills of exchange?​

Answer 1

Answer:

Features of Bills of Exchange

A bill of exchange an instrument in writing.

It is drawn and signed by the maker i.e. drawer of the bill.

It is drawn on a specific person i.e. drawee, to pay the specified amount.

Contains an unconditional order to a person i.e. drawee.

To make an instrument of value the drawee must accept it.

Answer 2

Features of Bills of Exchange

• A bill of exchange an instrument in writing.
• It is drawn and signed by the maker i.e. drawer of the bill.
• It is drawn on a specific person i.e. drawee, to pay the specified amount.
• Contains an unconditional order to a person i.e. drawee.
• To make an instrument of value the drawee must accept it.

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Explanation:

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