3 Questions
Who must the certain person be, according to the definition of a bill of exchange?
To pay a certain sum of money only to, or to the order of a certain person
What is a bill of exchange according to the Negotiable Instruments Act 1881?
An instrument in writing containing an unconditional order
What is the essential requirement regarding the payment in a bill of exchange?
The payment must be for a certain sum of money
Test your knowledge of the Negotiable Instruments Act 1881 with this quiz on bills of exchange. Challenge yourself with questions on the definition, types, format, and important concepts related to bills of exchange as outlined in the Act.
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