Hello, is everything alright? Can I help?
I have a Promissory Note, but it's not called that. It's a Bill of Exchange.
Similar to a Promissory Note, yes. I can deal with that for you right here. The difference between a Promissory Note and a Bill of Exchange is that this product is transferable and can bind one party to pay a third party that was not involved in its creation.
So, even if someone wasn't directly involved, they can become involved? Like the bank you cash it in?
That's right. We didn't issue it to you, but technically we are buying it from you. So, we become involved.
I see. Sorry about this, I'm new in this job and I've never even seen one of these before! My boss just told me to come here and sort it out.