Give 4 difference between bill of exchange and promissory note
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Heya mate
Difference between bill of exchange and promissory note..
1) In bill of exchange, creditor is the drawer but in promissory note, debtor is the drawer.
2)Bill of exchange is an order to pay but promissory note is a promise to pay.
3) Bill of exchange needs acceptance by the drawee but promissory note does not need the acceptance by the drawee.
4)Bill of exchange has three parties --Drawer ,Drawee and Payee.
Promissory note has two parties -- Promisor and Payee.
hope it helps✌
Difference between bill of exchange and promissory note..
1) In bill of exchange, creditor is the drawer but in promissory note, debtor is the drawer.
2)Bill of exchange is an order to pay but promissory note is a promise to pay.
3) Bill of exchange needs acceptance by the drawee but promissory note does not need the acceptance by the drawee.
4)Bill of exchange has three parties --Drawer ,Drawee and Payee.
Promissory note has two parties -- Promisor and Payee.
hope it helps✌
Anonymous:
hii
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