Multiple choice

Which written instrument signed by the maker is a promissory note?

  1. "Mr. B, I owe you one thousand rupees."

  2. "Mr. B, I will pay you ten thousand rupees after my marriage."

  3. "Mr. B, I will pay you on demand."

  4. "Mr. B, I will pay you one thousand rupees on demand."
Reveal answer Fill a bubble to check yourself
D 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. "Mr. B, I will pay you one thousand rupees on demand" is a valid promissory note.

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