The principal instruments of banking are (1) money and currency, (2) checks, (3) bills of exchange or drafts, (4) acceptances, (5) promissory notes. A "check" may be defined as a written order on a bank or banker for the payment of money. A "bill of exchange" or "draft" may be defined as an order drawn by one party, called the "drawer," on another party, called the "drawee," for the payment of money to a third party, called the "payee," the amount to be charged to the drawer. A bill of exchange may be drawn payable at sight or at some specified time subsequent to sight or demand. Unless the drawee wishes to pay a time draft or bill when presented before it is due, he writes across the face of the paper the word "accepted," with his signature and the date. This means that the drawee assents to the terms of the bill or draft and binds himself to honor it at maturity. It then becomes known as an "acceptance." A "promissory note" is a promise made in writing by one party, called the "maker," to pay a sum of money to another party, called the "payee," or to his order.