alleryA Bill of Exchange must be:
AIn writing and dated
BVerbal between parties
CStamped only if foreign
DSigned by witness only
Answer & Solution
Correct answer: A. In writing and dated
1. Bill must be in writing, dated, contain unconditional order, and signed by the drawer.
2. Stamps are required (except for bills payable on demand).
3. Verbal undertakings are not bills.
_Source: ICAI BoS Foundation Paper 1, Ch 6 "Bills of Exchange", §1 characteristics_
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