'A' signs the instrument in the following terms. State the instrument which cannot be considered as…
"I promise to pay B INR 500 seven days after my marriage with C" is contingent on an uncertain event, so the promise is not unconditional and the writing is not a promissory…
Choose your answer
'A' signs the instrument in the following terms. State the instrument which cannot be considered as promissory note:
Answer and explanation
Correct answer D
"I promise to pay B INR 500 seven days after my marriage with C" is contingent on an uncertain event, so the promise is not unconditional and the writing is not a promissory note under s.4 of the Negotiable Instruments Act, 1881 (illustration to s.4).
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