I promise to pay B Rs. 50,000/- and to deliver him my black horse on 1st March next. What is this an…
A promissory note under s.4 of the Negotiable Instruments Act, 1881 must be an unconditional undertaking to pay only a certain sum of money. Since this instrument also…
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I promise to pay B Rs. 50,000/- and to deliver him my black horse on 1st March next. What is this an example of?
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Correct answer D
A promissory note under s.4 of the Negotiable Instruments Act, 1881 must be an unconditional undertaking to pay only a certain sum of money. Since this instrument also undertakes to deliver a horse, it is "not a promissory note".
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