ABSTRACT
Bills of exchange, like promissory notes and cheques, belong to the classification of'negotiable instruments' fulfilling the following requirements.
They embody the rights and liabilities of the parties, independently from the underlying contract(s).
They are established to the order of someone or to the bearer and are transferable respectively by endorsements and delivery or by delivery alone.
They confer on their holders in good faith the incontestable right to receive a certain sum of money.
They are instruments of credit and/or of payment, or debt instruments used in commercial and financial transactions.
