We saw in the previous article that numerous parties are involved in promissory notes. The different parties were presented as well as the role they have. In this article we consider two other parties that play an important role in promissory notes: the drawer’s bank and the drawee’s bank. At the end of the day, […]
After the introduction of negotiable instruments in the previous article, we will now focus on two instruments that are extensively used in business transactions in numerous countries: the promissory note and the bill of exchange. This article is about the promissory note and will handle the following topics: What is a promissory note? Contents of […]