Does a Bill of Exchange Have to Be Written

question 15

Multiple Choice

Does a bill of exchange have to be written?

• A) No, in accordance with the Statute of Frauds.
• B) No, in accordance with the common law.
• C) No, in accordance with the Personal Property Security Act.
• D) No, in accordance with the Bills of Exchange Act.
• E) Yes, in accordance with the Bills of Exchange Act.

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Definitions:

Mobil

An American oil company now merged with Exxon to form ExxonMobil, one of the world's largest publicly traded international oil and gas companies.

Chevron

An American multinational energy corporation, one of the world's leading integrated energy companies, involved in every aspect of the oil and gas industry.

John D. Rockefeller

An American industrialist and philanthropist who was a co-founder of the Standard Oil Company and became one of the world's wealthiest individuals.

Oil Trust

Historical term referring to monopolies or near-monopolies in the oil industry, specifically in the United States during the late 19th and early 20th centuries.