Multiple choice

What is a bill of exchange?

  1. It is an instrument written or oral, containing an unconditional undertaking signed by the maker to pay certain sum of money to the bearer

  2. It is an instrument in writing containing an conditional undertaking signed by the maker to pay certain sum of money to the bearer

  3. It is an instrument in writing containing an unconditional undertaking signed by the maker to pay certain sum of money to the bearer

  4. It is an instrument in writing containing an unconditional order signed by the maker to pay certain sum of money to the bearer
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D Correct answer
Explanation

 A bill of excange is a               written document               containg a conditional undertaking               to pay a certain amount to the bearer

 

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