What are the features of Promissory note?
AccountancyClass 11CBSEAnswered 23 Jun 2026
Answer
Features of Promissory note:
- It must be in writing.
- It must contain an unconditional promise to pay.
- The sum payable must be certain.
- It must be signed by the maker.
- The maker must sign it.
- It must be payable to a certain person.
- It should be properly stamped.
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