- 1 Marks
Question
A bill lacking in some material particular is known as
A. Inland bill
B. Incomplete or inchoate bill
C. Promissory bill
D. Esoteric bill
E. Accelerated bill
Answer
B
Explanation:
The correct answer is “Incomplete or inchoate bill.” An inchoate or incomplete bill is one that is missing some essential details, such as the amount to be paid, making it incomplete until those details are filled in
- Tags: Bills of Exchange, Multiple Choice, Negotiable Instruments
- Level: Level 1
- Topic: Negotiable Instruments
- Series: NOV 2013
- Uploader: Theophilus