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A bill of exchange must contain “an unco...

A bill of exchange must contain “an unconditional promise to pay” Do you agree with a statement?

Text Solution

Verified by Experts

Yes, I agree with the statement
Explanation:
i. A bill of exchange is that the order that is in written kind and used as primarily within the international trade, that binds the party to pay the mounted quantity of cash to a different party on demand or on such date and time.
ii. So, yes, it contains the unconditional promise to pay the person on demand or a pre- determined date.
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