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Eduncle Asked an Mcq
March 2, 2020 2:36 pm
  • UGC NET
  • Law

Which of the following is/are true about Bill of Exchange?

Which of the following is/are true about Bill of Exchange?
    (a)    A Bill of Exchange, requires in its inception two parties
    (b)    A Bill of Exchange or draft is a written order by the drawer or drawee to pay money to the payee
    (c)    Bill of Exchange are primarily used in the International trade and are written orders by one person to his Bank to pay the bearer a specific sum on a specific date 
    (d)    Definition of Bill of Exchange is mentioned in the section 6 of the Negotiable Instrument Act
    Choose the most appropriate option :

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  • Karan
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  • Eduncle Best Answer

    A Bill of exchange requires inception of three parties.
    Definition of Bill of Exchange is mention in Section 5 of the NI Act.

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