Business Studies, asked by bbhati658, 8 months ago

discuss in detail the types of negotiable instruments & their usage in trade??

Answers

Answered by gratefuljarette

The types of negotiable instruments & their usage in trade

Explanation:

Promissory notes: Promissory notes is a negotiable instrument which is written promise which signed and promised to be paid to a specific person.

Bill of exchange: Bill of exchange is a negotiable instrument in which a creditor has to to pay to the debtor after a specific period.

Cheque: Cheque is a negotiable instrument in which a bank has to pay to the bearer of the instrument a certain amount of money on a certain date. These instruments are used for trade.