(a) Explain the following negotiable instruments that are negotiable under the law: i) Bill of exchange...

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(a) Explain the following negotiable instruments that are negotiable under the law: i) Bill of exchange (2 marks). ii) Bank draft (2 marks). iii) Promissory note (2 marks). b) Describe the methods used by the Central Bank of Kenya to control the creation of credit in the economy (9 marks). (a) Explain the following negotiable instruments that are negotiable under the law: i) Bill of exchange (2 marks). ii) Bank draft (2 marks). iii) Promissory note (2 marks). b) Describe the methods used by the Central Bank of Kenya to control the creation of credit in the economy (9 marks).

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Answer a i Bill of Exchange A bill of exchange is a written instrument that contains an unconditional order by one party the drawer to another party t... View the full answer