Difference between Bill of Exchange and Promissory Notes
Difference between Bill of Exchange and Promissory Notes
|
Bill of Exchange |
Promissory Notes |
|
v It is an unconditional order directing a certain person to pay a
certain sum of money v Generally, there are three parties in the bill of exchange- the
drawer, the drawee and the payee. v A bill of exchange requires acceptance by the drawee after if is
drawn by the drawer.
v Bill of exchange may be payable either on order or to the bearer. v In case of Bills of exchange notice of dishonour is given to all
parties concerned. v The maker (Drawer) of the Bill is liable only when drawee does not
make payment. v In Case of foreign bills protest is necessary if it is required as
per law of the country where bill has been drawn. |
v It is an unconditional promise to pay a certain sum of money. v There are two parties in a promissory note- the promisor or maker
and the payee.
v This does not require acceptance. It is written by the person who
will pay the amount. v Promissory note can not be payable to bearer.
v In case of promissory note, notice of dishonour is not required. v The maker is primarily liable to pay the amount. v Protest is not required for promissory note. |
Join COC Education, We provided best video classes for
CA/CMA/CS/Class 11th & 12th/ B.com/M.com
Contact us
on- 9999631597, 8448322142, 7303445575
Visit
YouTube Channel http://www.youtube.com/channel/UCzqqr31HSE-B4HcM1Cw4RiQ?sub_confirmation=1
Click Now
for Demo Video https://www.coceducation.com/free-lectures
Join
WhatsApp group for your domain course http://whatsapp.conceptonlineclasses.com/
ENROLLED WITH
US TODAY AND ENLIGHTEN YOUR CAREER!!!
.jpg)
Related Courses
.png)
.png)
.png)
.png)
.png)
Top Reviews
Introduction to Statistics for CA Foundation
Introduction to Statistics for CA Foundation Business Mathematics, Logical Reasoning and Statistics is designed as per latest CA Foundation syllabus for Paper 3 to provide a firm grounding in the principles, techniques and practice. The book adopts self-study approach and has been written in student-friendly manner. With a blend of conceptual learning and problem-solving approach, it offers in-depth understanding of the basic mathematical and statistical tools. #introductiontostatistics
.jpg)
Chapter X of Companies Act 2013
Chapter X of Companies Act 2013 The company shall place the matter relating to such appointment for ratification by members at every annual general meeting. ... Under the Act, the provisions for rotation of auditors in the listed Company & certain other class of Companies, have been provided for. #chapterxofcompaniesact2013
.jpg)
Relevant sections under the Companies Act, 2013 dealing with fraud and false statements
Relevant sections under the Companies Act, 2013 dealing with fraud and false statements The new parent corporate law “The Companies Act 2013” is mostly ... I am limiting my write-up to the provisions to the Act, and I request the readers to refer relevant rules, if any, before ... in the 2013 Act is the Section 447 dealing with “Punishment for fraud”. ... Section 448
.jpg)
What is Corporate Image
What is Corporate Image A corporate identity or corporate image is the manner in which a corporation, firm or business enterprise presents itself to the public. The corporate identity is typically visualized by branding and with the use of trademarks, but it can also include things like product design, advertising, public relations etc #WhatisCorporateImage
.jpg)
What is Energy Audit
What is Energy Audit An energy audit is an inspection survey and an analysis of energy flows for energy conservation in a building. It may include a process or system to reduce the amount of energy input into the system without negatively affecting the output. #whatisenergyaudit
