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A Bill of Exchange contains:
AAn unconditional order
BAn unconditional promise
CConditional pay promise
DPledge of goods deed
Answer & Solution
Correct answer: A. An unconditional order
1. Negotiable Instruments Act defines a bill as an instrument in writing with an unconditional ORDER.
2. The order is from the drawer to the drawee/acceptor.
3. A promissory note, by contrast, contains a PROMISE.
_Source: ICAI BoS Foundation Paper 1, Ch 6 "Bills of Exchange", §1 ¶2_
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