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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

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