Question

What are the aims and objectives
of Bill of Exchange.
​

Answer 1

Answer: The aims and objectives

of Bill of Exchange are as follow  

Explanation:

• A bill of exchange must be in writing.

• It is an order to make payment.

• The order to make payment is unconditional.

• The maker of the bill of exchange must sign it.

• The payment to be made must be certain.

• The date on which payment is made must also be certain.

• The bill of exchange must be payable to a certain person.

• The amount mentioned in the bill of exchange is payable either on demand or on the expiry of a fixed period of time.

• It must be stamped as per the requirement of law.