needs and importance of bills of exchange........i want point wise answers
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plzzzz answer
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1. A bill of exchange must be in writing.
2. It must be dated and stamped. 3. It must be signed by the maker or drawer.
4. The name of the drawer must be clearly mentioned.
5. The order must be an unconditional one.
6. It must contain an order to pay money and not goods. 7. The sum payable must be specified.
8. The money must be payable to a definite person or to his order or to the bearer.
9. The amount should be paid within a stipulated time.
10. It must have adequate stamp duty at the prescribed rate.
2. It must be dated and stamped. 3. It must be signed by the maker or drawer.
4. The name of the drawer must be clearly mentioned.
5. The order must be an unconditional one.
6. It must contain an order to pay money and not goods. 7. The sum payable must be specified.
8. The money must be payable to a definite person or to his order or to the bearer.
9. The amount should be paid within a stipulated time.
10. It must have adequate stamp duty at the prescribed rate.
nice answer
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21
12th bk project bill of exchange
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