Promissory notes & bill of exchange

has been defined as an unconditional order in writing addressed

by one person to another; signed by the person giving it, requiring, the person to whom it is addressed to pay on demand or at a fixed or determinable future time, a certain sum in money to or to the order of a specified person or to bearer.

be inland or foreign. An inland bill is a bill

which is both drawn and payable within the a country. A foreign bill is one which is drawn in one country but accepted and payable in another country.

a bill:
Drawer
Drawee
Payee

a bill of exchange on the purchaser, the purchaser himself

makes a written promise to pay the amount to the seller. It is defined as an instrument in writing containing an unconditional promise, signed by the maker to pay on demand or at a fixed or determinable future time, a certain sum of money only to or to the order of a certain person or to the bearer of the instrument.