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How Many Parties Are Required In Promissory Notes? |
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Answer» Basically it requires two PARTIES. The one is maker who promises to pay and the other is payee to whom it is PAYABLE. For example a PERSON TAKE LOAN from the bank then the “person” is the “maker” and “the bank” is “payee”. Basically it requires two parties. The one is maker who promises to pay and the other is payee to whom it is payable. For example a person take loan from the bank then the “person” is the “maker” and “the bank” is “payee”. |
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