BILL OF EXCHANGE

: an unconditional written order addressed by one person to another and signed by the person giving it that requires the person to whom it is addressed to pay on demand or at a fixed or determinable future time a certain sum of money to or to the order of a specified person or to bearer, the drawee not being liable on it until he has accepted it — usually used of foreign transactions; see acceptance 4; compare draft 14a(1); acceptor , drawer , payee ; negotiable