thier will be three partie always when their is talk of negotiable instrument (cheque , demand draft etc.)
drawer - a person who is drawer of the bill on the demand pof payer
payee - who will have the money in future.
drwaee- who will reciev the negotible instrument (cheque) on the behalf of the payee. for payment.
Answer on the difference between the primary and secondary
The capital market is divided into two,the primary market
and the secondary market.
The primary market is the market where a company tjat is
quoted can raise share to finance its business operation.It
is the market for a new share thwt has not be raised.In
other words, it is the market where funds that have not be
raised before can be raised.It is a market for Initial
Public Offer (IPO).
The primary market provides the room for the secondary
The secondary market is the market where shares raised from
the primsry market are sold.In this case ,an agent is
required to sell the shares for you.
Both markets are regulated by different regulatory bodies
including the Central Bank of a nation.