It is an unconditional order which takes the form of ‘pay” and not “pay if”.
It must be in writing.
It must be addressed by one person to another.
It must be signed by the person giving it i.e. the bill must be signed by the seller who is known as the drawer of the bill.
It must require the buyer who receives the bill to pay a sum of money on demand, or at a fixed or determined future date.
The bill may be made payable to or to the order of a specified person or to bearer. The specified may be the drawer of the bill, or a third person to whom he requires payment to be made;