Question

An instrument which can be interpreted either as a bill of exchange or promissory note is called ----.

• A. Convertible instruments
• B. Dual-purpose instruments
• C. Hybrid instruments
• D. Ambiguous instruments

Answer 1

Answer:

D. Ambiguous instruments

Complete instrument Bill:

• A negotiable instrument which is complete in all it's particulars it is called a "Complete instrument Bill".

Ambiguous instruments:

• An instrument which can be interpreted either as a bill of exchange or promissory note is called Ambiguous instruments.