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Complete the following table.Sl. No.BasisBill of ExchangePromissory Note1.MakerCreditor?2.??Promise to pay3.Acceptance??4.Parties??5.Liability?Drawer has primary liability |
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Answer» 1. Debtor 2. Order or promise, order to make payment 3. Needs acceptance by drawee/does not need any acceptance. 4. Three – Drawer, Drawee, Payee Two – Drawer and payee 5. Drawer has secondary liability. |
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