What are the advantages of bills of exchange?

-they are clear evidence that the payer is in debt to the payee. this can be very useful in terms of fraudulent payments -there is certainty over the payments as the payer has to note the payee, the date, the bill is in writing and it has been signed. (Electric money transfers doesn’t let the person know the money has been transferred) -they are negotiable and so title can be easily exchanged (even in case to settle the payer’s debt) -physical money is more risky and impracticable for large commercial transactions -title is transferred - can establish time - payer can gather money to pay the payee