Negotiable Instruments Act, 1881
Section - 4 - "Promissory note
CHAPTER II
OF NOTES, BILLS AND CHEQUES
"Promissory note".
4. A "promissory note" is an instrument in writing (not being a bank-note or a currency-note) containing an unconditional undertaking, signed by the maker, to pay a certain sum of money only to, or to the order of, a certain person, or to the bearer of the instrument.
Illustrations
A signs instruments in the following terms:-
| (a) | - | "I promise to pay B or order Rs. 500." |
| (b) | - | "I acknowledge myself to be indebted to B in Rs. 1,000, to be paid on demand, for value received." |
| (c) | - | "Mr. B, I.O.U. Rs. 1,000." |
| (d) | - | "I promise to pay B Rs. 500 and all other sums which shall be due to him." |
| (e) | - | Google Play store
06 July 2026
C.A./CA Inter OR pursuing C.A./GST/Accounts/Audit/IT - HeadArvindkumar Maniar & Co. Rajkot CA View Details
ARTICLESHIP
30 June 2026
Taxation Content Writer InternInteractive Media Pvt Ltd. New Delhi CA Inter View Details
ARTICLESHIP
30 June 2026
Article Assistant or Paid AssistantVIKAS VERMA & CO New Delhi Others View Details |
CAclubindia
