Final answer:
A bill of exchange is a financial document used for payment transactions that contains an unconditional order to pay.
Step-by-step explanation:
A bill of exchange is a financial document that is used for payment transactions. It is a written order from the drawer, who is the creditor or seller, to the drawee, who is the debtor or buyer, to pay a certain amount of money to the payee, who is the designated recipient of the payment. The bill of exchange contains specific characteristics that define its nature.
One of the characteristics of a bill of exchange is that it contains an unconditional order to pay. This means that the payment obligations of the drawee are not dependent on any conditions. The drawee is legally obligated to fulfill the payment stated in the bill without any requirements or limitations.
Therefore, the correct answer to the question is D. Contains an unconditional order to pay. This statement goes against the characteristics of a bill of exchange and does not accurately represent its nature.