... A bill can also be payable on demand or by acceptance. An example of the former of these is a cheque. This instrument is in many ways different to other forms of bill of exchange, which in some cases causes authors to put them into a separate category. S, however, the truth of these instruments is that they are a species of a bill of exchange and consequently I shall not treat them separately for the purpose of this essay. Bills of exchange are fully negotiable instruments, which means that the holder of the bill can discount the bill to other holders, with an order bill this is done by indorsement. With a bearer bill it is done with transfer. It is obvious that bills of exchange are not the only methods of payment for goods sold under a contract. Other methods consist of cash payment and credit agreements, ...

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