A promissory note is a bill of exchange.

Name: A promissory note is a bill of exchange.
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A promissory note is a financial instrument that contains a written promise by one party to pay another party a definite sum of money, either on demand or at a specified future date. A bill of exchange, on the other hand, is an order made by one party to another to pay a third party a certain sum of money. They are distinct financial instruments with different functions.

A Promissory Note Is a Bill of Exchange