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AccountancyCLASS 11CBSE
answered 23 Jun 2026

List the features of Bill of Exchange.

A.VERIFIED ANSWERfact-checked by tutors
Features of bills of exchange - 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.

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ACCOUNTANCY · CLASS 11