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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07 July 2026
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