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Characteristics of modern bill of exchange and how does a bill of exchange operate?
The important characteristics of a bill of exchange are: 1. It must be in writing. 2. It must be an order to pay, and not a request to pay. 3. The order must be unconditional. 4. The order must be signed by the maker, i.e. the drawer. 5. The order must be directed to a certain person. 6. The order must be for the payment of money only. 7. The money payable must be certain, and not vague. 8. The money must be payable to a certain person mentioned in the instrument or to his order or to the bearer of the instrument. 9. It must bear the required revenue stamp. A bill of exchange is playing an important part in the commercial life of the country. The need for it arises where the buyer of goods needs a period of credit before paying it, it is drawn by the creditor and is accepted by the debtor. According to F.W Muller a bill of exchange is an unconditional order in writing addressed by one person to another, signed by the person giving it, requiring the person to whom it is to pay on demand or at a fixed or determinable future time a sum certain in money to or the order of a certain person or to bearer. There are certain characteristics of the bill of exchange. A bill of exchange must be in writing. It must contain an order to pay. The order to pay must be unconditional. If it is subject to the happening of some events, it will not be a bill of exchange. It must be signed by the drawer and properly stamped. The parties to the bill, the drawer and the drawee and payee must be certain and definite individuals. The amount payable must be certain. The payment must be made in money and not in kind.
The difference between event and transaction and why?
transactions is exchange of an asset with consideration of money value while events is any thing in general purpose which occur at specific time and particular place. all transactions are events but not events are transactions. this is due that in order events to be called transactions must involve exchange of values
Explain the essential elements of bills of exchange?
Essential of Bill of Exchange 1. The bill must be an unconditional order. 2. It must be in writing. 3. It must be signed by the maker. 4. The drawer must be a certain person. 5. The drawee must be certain. 6. The payee must be certain person. 7. The amount payable in the bill must be certain. 8. The order must be to pay money and money only. 9. The amount must be payable on demand or a fixed or determinable time. 10. It must be stamped according to the value of the bill.
What is a zero-sum condition?
A condition that must occur in order for a transitive voting system to be accurate. The gain for one side must entail a loss for the opponent.
Can you explain how to bust a trade?
"Busting a trade" refers to canceling or reversing a trade that has been made. This can happen if there was an error in the trade or if it violates trading rules. To bust a trade, the trader must contact their broker or exchange and request to cancel the trade. The broker or exchange will then review the request and determine if the trade can be canceled.
What must occur for hardy weinberg equilibrium to occur?
mating must happen randomly
What must be true for hardy equilibrium to occur?
mating must happen randomly
What must happen for a new moon to occur?
For a new moon to occur the moon must be between earth and the sun
What must happen for cultural change to occur?
lalalaljsk
What must happen to pollen grains in order for pollination to occur?
True pollen comes from artichokes in which farts come from natural gas.
What must be for Hardy Weinberg equilibrium to occur?
mating must happen randomly
What must happen for specification to occur?
A population must be isolated in some way
What conditions must exist before a marketing exchange can occur?
For a marketing exchange to occur, there must be two parties involved - a buyer and a seller. Both parties must have something of value that the other party desires, such as a product or service. There must also be a communication channel through which the exchange can take place, such as advertising or personal selling.
What must be true for Hardy-Weinberge equilibrium to occur?
mating must happen randomly
What must be true for hardy weinberg equilibrium occur?
mating must happen randomly
What must be true for hardy -Weinberg equilibrium to occur?
mating must happen randomly
What must always happen before a hypothesis can be formed?
a reveiw of what is known about the subject must occur
