Question

Prepare an imaginary specimen of a bill of

exchange, and state the purpose of noting

thereon.


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Answer 1

Answer:

According to the Indian Negotiable Instruments Act of 1881, under section 5, “A Bill of Exchange is an instrument in writing containing an unconditional order, signed by the maker, directing a certain person to pay a certain sum of money only to, or to the order of, a certain person or to the bearer of the instrument.”