10.2.3　Classification of Promissory Notes本票的分类

Promissory notes can be a trader’s note or a banker’s note.A trader’s note is issued by a firm,while a banker’s note by a bank.As commercial credit standing is generally believed not as trustworthy as a banker’s,a trader’s note is rarely used in international trade.The vast majority are banker’s notes,which are often payable on demand.