Question

what do you mean by a bill of exchange.Distinguish between bill of exchange and promissory note.

Answer 1

Hello!!


Promissory notes are similar to bills of exchange in that they, too, are a financial instrument that is a written promise by one party to pay another party.

Promissory notes are retained by the payee or seller and, once payment has been completed, must be canceled and returned to the issuer or buyer.



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