No Result
View All Result
  • GK 2025
  • Politics
  • National
  • International
  • Business
  • Industry
  • Wealth
  • Technology
  • More
    • Corporate Law
    • Lifestyle
    • OD SPECIAL
  • GK 2025
  • Politics
  • National
  • International
  • Business
  • Industry
  • Wealth
  • Technology
  • More
    • Corporate Law
    • Lifestyle
    • OD SPECIAL
No Result
View All Result
No Result
View All Result
Home Corporate Law

Essentials of promissory note

ON DEMAND NEWZ by ON DEMAND NEWZ
December 7, 2023
Reading Time: 2 mins read
0
Promissory note

Promissory note

Share on Facebook

 

Promissory note
Promissory note

Essentials of promissory note

  1. Agreement on paper or writing: It should be properly written or printed. Any promise the person makes over the phone is not valid as a written note.
  2. Conditions-Free Promise: The person who draws must make a promise to the person who draws without any conditions being set in the pronote. If the drawee agrees to pay the payee the money, that can be written into the promissory note.
  3. Files That Have Been Signed: The person who is drawing the paper must sign it. This is because the responsibility lies with the drawer, not the drawee. The drawee does not have to sign it.
  4. Exact Names: All parties must have their exact names written down.
  5. Interest: If there is an interest rate on the money, it should be written in the pronote.
  6. Date of issue: Both the date of issue and the date the note will age must be written in the pronote.
  7. Stamped: the paper needs to be stamped. One rupee revenue stamp or the note should be on the stamp paper.
  8. Pay Set Amount: The person who draws the note should pay the full amount written on it. The written amount can’t be taken away or added to.
  9. Legal Form: The legal cash should be used to pay for the thing.
  10. Detailed information: Information in Great Detail—Every piece of information should be very clear.
Promissory Notes cases that have been solved

 

Find the word(s) that are missing from the following lines.

 

(1) Makers, __________, and __________ are all parties to promissory notes.

(2) A n undertaking to pay money on a specific furture date is an __________promise.

(3) A promise note must always be in __________ and not oral.

 

Answer: (1) payees and holders (2) Unconditional (3) writing

Buy JNews
ADVERTISEMENT
ON DEMAND NEWZ

ON DEMAND NEWZ

Related Posts

Godrej Agrovet
Industry

Eco-Friendly Pest Control in India Is Now Available Thanks to Godrej Agrovet and Provivi

November 18, 2024
Promotion tools, Significance & tools
Business

Promotion – meaning and significance of promotion. Promotion tools (brief)

October 12, 2024
INSTAMART
Business

The growing influence of Instamart in Indian markets /भारतीय बाज़ारों में इंस्टामार्ट का बढता प्रभाव

October 3, 2024
Physical distribution
OD SPECIAL

Measuring Distribution Channel Performance

September 22, 2024
Physical distribution
Business

Product Physical distribution and factors marketing channels

September 18, 2024
Price & Pricing
Business

Pricing – objectives- factors influencing pricing policy and Pricing strategy

September 15, 2024

Recommended Stories

Tensions arise as ICC issues arrest warrant for Putin

Tensions arise as ICC issues arrest warrant for Putin

March 18, 2023
Zoya Akhtar's 'The Archies'

‘The Archies’ team drops a promising teaser during Netflix’s Tudum event in Brazil!

June 18, 2023
Six killed, including three children in Nashville Christian School shooting

Six killed, including three children in Nashville Christian School shooting

March 28, 2023

Popular Stories

  • Meet Kyra; India’s first virtual influencer!

    Meet Kyra; India’s first virtual influencer!

    2599 shares
    Share 1040 Tweet 650
  • ‘BHOLAA’ movie new posters out! Checkout the cast and more….

    2502 shares
    Share 1001 Tweet 626
  • Pushpa: The Rule first look and Teaser OUT

    2127 shares
    Share 851 Tweet 532
  • Michael Movie Review: Effective making and an intense narration resurrects sub story.

    1907 shares
    Share 763 Tweet 477
  • India becomes world’s largest populated country, surpasses China’s population

    1738 shares
    Share 695 Tweet 435

On Demand Newz is a news website that provide daily updates on politics, entertainment, business, technology, sports and lifestyle. We also provide the latest national and international news from various countries in the world. Our mission is to provide a curated, detailed, and valuable daily news website around the world, information and entertainment that will bring you insights from all corners of the globe.

Recent Posts

  • Iran and Israeli War (June 2025)
  • The fast action taken by State Legislator Rajan Naik in response to the issue of the Vasai Virar Municipal Practitioner, Students:
  • वसई विरार म्यूनिसिपल, छात्रों के मुद्दे पर राज्य के विधायक राजन नाइक द्वारा की गई त्वरित कार्रवाईः
  • The US bombs Yemen, killing 31, after the Houthis make threats against Israel over Gaza.
  • India’s Urbanization Challenge: Creating Sustainable Cities Introduction.
  • Results of Delhi Assembly Election 2025: Complete list of winners constituency wise.
  • Basics of Sports Management Environment.

Categories

  • AI
  • Applications
  • Business
  • Business
  • Corporate Law
  • Culture
  • Culture & Beliefs
  • Economy
  • Editorial
  • Education

Categories

  • Entertainment
  • GK 2025
  • Health
  • Industry
  • International
  • Law
  • Lifestyle
  • Mass Media
  • National
  • Newness

© 2025 On Demand Newz

No Result
View All Result
  • GK 2025
  • Politics
  • National
  • International
  • Business
  • Industry
  • Wealth
  • Technology
  • More
    • Corporate Law
    • Lifestyle
    • OD SPECIAL

© 2025 On Demand Newz

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?