Which one is NOT required?

Exercise and reference answers

Questions

1. Items

   1. It must be payable to bearer
   2. It must be in writing
   3. The promise must be unconditional
   4. The maker must sign it

   Reason

   A promissory note must NOT be made payable to the bearer. The other three are genuine requirements.

   Odd item

   It must be payable to bearer

2. Items

   1. It must be dated
   2. It must be witnessed by two people
   3. Payment in legal currency
   4. An order to pay a certain sum

   Reason

   Witnesses are not among the characteristics of a bill of exchange. The other three are.

   Odd item

   It must be witnessed by two people

Instructions

Tap the item that does not belong with the rest.

Explanation