Question

How legal is a promissory note?

Answer 1

A promissory note is a legal written document that contains a composed guarantee to pay an assured amount of cash to a certain individual on a specified date or on request. Since it is recorded as a hard copy and legally bound, both the parties are subsequently assured that they are upheld by law if there should be an occurrence of any future problems.

Also read:

• What Is Promissory Note?
• Difference Between Bill of Exchange and Promissory Note