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An unconditional order by a creditor to a debtor requiring payment on a specified date...

Commerce
NECO 2009

An unconditional order by a creditor to a debtor requiring payment on a specified date is called

  • A. promissory note
  • B. letter of credit
  • C. money order
  • D. bill of exchange
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Correct Answer: Option D
Explanation

A bill of exchange is an unconditional order issued by the creditor and orders a debtor to pay a particular amount within a given period of time. 

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