Define a promissory note.

1.	Define a promissory note.
Answer» The definition of a promissory note as per the Indian Negotiable Instruments Act, 1881 is as follows : “A promissory note is an instrument in writing containing an unconditional undertaking, signed by the drawer to pay a certain sum of money only at a specified time to a certain person or according to his order or to the holder of the instrument.”

Answer»

The definition of a promissory note as per the Indian Negotiable Instruments Act, 1881 is as follows :

“A promissory note is an instrument in writing containing an unconditional undertaking, signed by the drawer to pay a certain sum of money only at a specified time to a certain person or according to his order or to the holder of the instrument.”

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Define a promissory note.

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