Question 61
Purchase and Sale of GoodsUse the information in the following diagram to answer questions 61 & 62.
The above document is
- A.an inland bill of exchange
- B.a foreign bill of exchange
- C.a money order
- D.a promissory note
- E.a cheque
Show the answer and explanation
Answer: A (an inland bill of exchange)
Explanation
It orders Abiodun Tutu to pay a sum at a future date, and both parties are in Nigeria, so it is an inland bill of exchange.