Key Differences between Promissory Notes and Bills of Exchange

Aug 22, 2024

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Promissory notes and Bills of Exchange are two common types of instruments used in commercial and personal finance. While these might appear to be similar at first glance, these serve different purposes and have distinct characteristics.

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Key Differences between Promissory Notes and Bills of Exchange

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Bills Of Exchange

Bills Of Exchange. Introduction. Negotiable Instrument . According To Section 13(1) Of The Negotiable Instrument Act, 1881, “ A Negotiable Instrument Means A Promissory Note, Bill Of Exchange Or Cheque Payable Either To Order Or To Bearer”. Recognized By Statute

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