Question

How many parties are there in a Promissory note?

• A. $5$
• B. $4$
• C. $3$
• D. $2$

Answer 1

The correct option is D $2$

There are two parties to a promissory note:

(1) Maker or Drawer is the person who makes or draws the promissory note to pay a certain amount as specified in the promissory note. He is also called the promisor.

(2) Drawee or Payee is the person in whose favour the promissory note is drawn. He is called the promisee.