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WAEC Commerce 1991 (August) Question 85

Question 85

Purchase and Sale of Goods

Which of the following requires acceptance by the debtor to make it valuable?

  1. A.Postal order
  2. B.Cheque
  3. C.Promissory note
  4. D.Bill of exchange
  5. E.Bill of lading
Show the answer and explanation

Answer: D (Bill of exchange)

Explanation

A bill of exchange is drawn by the creditor and becomes binding when the debtor accepts it by signing.