Multiple choice

Which of the following is a valid promissory note?

  1. “A, I owe you some amount.”

  2. “A, I owe you Rs. 1000.”

  3. “I promise to pay A or order Rs. 1000."

  4. “I promise to pay the bearer Rs. 1000."
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

A valid promissory note is a signed document containing a written promise to pay a stated sum to a specified person or the bearer at a specified date or on demand. “I promise to pay A or order Rs. 1000” is a valid promissory note. 

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