1.

Complete the following table.Sl. No.BasisBill of ExchangePromissory Note1.MakerCreditor?2.??Promise to pay3.Acceptance??4.Parties??5.Liability?Drawer has primary liability

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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