Bill of exchange

Bill of exchange – within the area of Business Law, this term details written order, issued from one person (the payor) to another, signed by the person giving it, requiring the person to whom it is addressed to pay on demand or at some fixed future date, a certain sum of money, to either the person identified as payee or to any person presenting the bill of exchange. A cheque is a form of bill of exchange where the order is given to a bank. See also .

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