Banking · Demand Draft
How is a Demand Draft legally defined under negotiable instruments?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1An unbacked financial bond issued by corporate bodies
- 2A post-dated cheque that is drawn on a personal account
- 3A promissory note that can only be cashed after a fixed term
- 4A bill of exchange payable on demand or at sight✓
Correct answer
A bill of exchange payable on demand or at sight
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