Question

differentiate between "bill of exchange ' and promissory note on the basis of drawer.
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Answer 1

→Answer is :

There are three types of Negotiable Instruments, namely Bill of Exchange, Cheques and Promissory Note

Bill of Exchange Promissory Note

Issued By

Creditor Debtor

Parties Involved.

→Three parties involved i.e a drawer, the drawee and a payee.>

→Two parties involved i.e a drawer/maker and the payee