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______________ is an instrument in writing, containing an unconditional order, signed by the maker, directing a certain person, to a pay a certain sum of money only to, or to the order of a certain person or to the bearer of the instrument
Promissory Note
bill of exchange
Cheque
none of the above
- A Promissory Note is a written promise to pay a certain sum of money to a specified person or bearer on demand or at a future date.
- A Bill of Exchange is a written, unconditional order. It directs a certain person to pay a specified amount of money to, or to the order of, a certain person or bearer.
- A Cheque is a type of bill of exchange drawn on a bank and payable on demand. It specifies a fixed amount of money.
Correct Answer: Option 2, Bill of Exchange
By: santosh ProfileResourcesReport error
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