What is a bill of exchange, but a promissory note?

Cambia

Cambia este un titolo di credito, sottoscritto privatamente, che collega nel processo della sua creazione tre persone: il trattario, il traente e il beneficiario.

The title is created by the drawer as a creditor who orders his debtor, called the drawee, to pay a fixed amount at a determined time, either to a beneficiary or to the order of the latter.

Promissory Note

The promissory note is a credit instrument, under private signature, which connects, in the process of its creation, two persons: the subscriber or issuer and the beneficiary.

The title is created by the subscriber or issuer as debtor, who undertakes to pay a fixed sum of money, at a certain term or upon presentation by another person, called beneficiary, who has the status of creditor.