Question

difference between bills of exchange and promissory note

Answer 1

Bill of Exchange is an instrument in writing showing the indebtedness of a buyer towards the seller of goods.A promissory note is a written promise made by the debtor to pay a certain sum of money to the creditor at a future specified date

Answer 2

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A bill of exchange is an unconditional written order made by the drawer on drawee to receive the specified sum within the mentioned period. Whereas, a promissory note is a written promise made by the borrower or drawer to repay the amount on a specific date or order of the payee.