Differentiate between"Bill of exchange" and " Promissory note" on the basis of acceptance?
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Explanation:
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. Defined in. Section 5 of Negotiable Instrument Act, 1881.
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it is writeen by seller to buyer bill of exchanges and promisorry note is written by debtor to creaditor
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