A Bill of Exchange Differs from a Promissory Note in That

A bill of exchange differs from a promissory note in that:

A) only promissory notes have an active secondary market.
B) a promissory note is a short-term instrument, whereas a bill of exchange is not necessarily short-term.
C) there is generally an issuer and an acceptor for a bill of exchange, whereas there is no acceptor involved for a promissory note.
D) bills of exchange are only used for trade transactions.

Correct Answer:

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Access For Free