Which of the following means of payment requires acceptance by the debtor to make it valuable?
- Bearer's cheque
-
Bill of exchange
- Postal order
- Promissory note
The correct answer is: B
Explanation
A bill of exchange is of real use if it is accepted by the person directed to pay the amount. For example, if Mr. X orders Mr. Y to pay N10,000 for 90 days after the date and Y accepts this order by signing his name, then it will be a bill of exchange.