A Bill of Exchange Is a Type of Sight Draft

question 69

True/False

A bill of exchange is a type of sight draft.

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Definitions:

Adequate Communication

Effective exchange of information, ensuring all involved parties fully understand terms, expectations, or instructions.

Reserve

Funds or resources set aside for specific future use or to cover unexpected liabilities, or the practice of conserving natural resources.

Auction

An auction is a public sale where goods or services are sold to the highest bidder.

Under Seal

A formal legal expression indicating that a document's signature has been affixed in a formal manner, typically making the document legally binding and more difficult to revoke.