Question

Which of the given below sentence is proper as to considered to be written in negotiable instruments _____________________.

• A. I Promise to pay Mr.B or order Rs. 500
• B. Mr. B I. O(owe) you Rs.500
• C. I am liable to pay you Rs.500
• D. None of the above

Answer 1

Answer: (A)

I Promise to pay Mr.B or order Rs. 500

A "promissory note" is an instrument in writing (not being a bank-note or a currency-note) containing an unconditional undertaking signed by the maker, to pay a certain sum of money only to, or to the order of, a certain person, or to the bearer of the instrument.