2. Types of commercial instruments in distinct characters are ?
1. Promissory Note: A written promise to pay a specified amount of money at a certain date or on demand.
2. Bill of Exchange: A written order from one party to another, directing the receiver to pay a certain amount of money to a third party.
3. Cheque: A written order from an account holder to their bank to pay a specific amount of money to another person or organization.
4. Certificate of Deposit: A time deposit with a fixed term and interest rate, issued by a bank.
5. Commercial Paper: Short-term, unsecured promissory notes issued by corporations to raise funds.
6. Bonds: Debt securities issued by governments or corporations to raise capital, with a promise of repayment at a future date with interest.