Question

distinguished between bill of exchange and promissory note

Answer 1

hi....In a promissory note, there are only two parties—the maker (debtor) and the payee (creditor). In a bill of exchange, there are three parties, namely, drawer, drawee and payee; though two out of the three capacities may be filled by one and the same person.

hope it helps...

keep smiling...

follow me for more wonders.....