Which of the following is not a characteristic of a bill of exchange?
A) The written order instructs to pay another party.
B) It is a written order by one party.
C) The payment order may require payment to be made to order or to the bearer of the document.
D) The order to pay concerns a specified sum of money.
E) The order to pay specifies that there must be money available before payment.

Question

Quizplus · Accepted Answer

The order to pay may or may not specify that there must be money available before payment. It is not a necessary characteristic of a bill of exchange.

Which of the Following Is Not a Characteristic of a Bill