Concept:A bill of exchange requires the debtor's acceptance to become a valid and valuable means of payment.
Explanation:A bill of exchange is an unconditional written order by the drawer instructing the drawee, who is the debtor, to pay a specified sum of money.
The drawee must accept the bill, usually by signing it, to make it binding on him.
For example, if Mr X orders Mr Y to pay a certain amount after 90 days, and Mr Y signs the order as acceptance, the document becomes a bill of exchange.
Bearer's cheques, postal orders, and promissory notes do not require acceptance by the debtor to become valuable.
Answer:B. Bill of exchange