Question

According to Negotiable Instrument Act $1881$, which of the following is not the type of promissory note?

• A. A promise to pay a certain sum of money to a person.
• B. A promise to pay a certain sum of money to the order.
• C. A promise to pay the bearer.
• D. A promise to pay a certain sum of money at some time.

Answer 1

The correct option is C A promise to pay the bearer.

According to Negotiable Instrument Act, 1881, a promise to pay the bearer is not the type of promissory note s promissory note can be defined as a written document which states the promise to pay the sum of money to a specified person.