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Bill of exchange is a _________.

  • Bill of exchange is a Conditional order.
  • A bill of exchange is a negotiable instrument that contains an unconditional written order by one party (the drawer) to another party (the drawee) to pay a certain sum of money, either immediately or at a future date.
  • The bill of exchange must also specify the name of the payee, who is the person to whom the money is to be paid.
  • It is a conditional order in that it is only payable upon the happening of a certain event or fulfillment of certain conditions specified in the instrument.
  • It is not necessary for a bill of exchange to be a printed form, as long as it meets the requirements of being in writing, containing an unconditional order to pay, and being signed by the drawer.