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Bills of Exchange
What is meant by the statement " Bills of Exchange cannot be made payable to bearer on demand"?
Replies (3)
for better understading of your query refer diffence between "BILLS OF EXCHANGE AND CHEQUE".
BOE is a time bound document, it is payable on maturity date (+3).
It means, while issuing BOE the payee name must be mentioned and cannot be left blank, it is not like 'Cheque'.
And payee must be a definite person.
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