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Question
What Is the Difference Between Bill of Exchange and Promissory Note?
What Is the Difference Between Bill of Exchange and Promissory Note?
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Solution
The difference between bill of exchange and promissory note is that in a bill of exchange the creditor issues the order to debtor for paying a specified amount of money on a particular date or on demand.
In case of a promissory note the debtor issues a written promise to pay the creditor a certain amount of money on a specified date or on demand.
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Learn about more questions and answers on business studies and various other commerce topics from our website.
The difference between bill of exchange and promissory note is that in a bill of exchange the creditor issues the order to debtor for paying a specified amount of money on a particular date or on demand.
In case of a promissory note the debtor issues a written promise to pay the creditor a certain amount of money on a specified date or on demand.
Also read:
Learn about more questions and answers on business studies and various other commerce topics from our website.
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