Under the Negotiable Instruments Act, 1881, the maker of a promissory note is bound to:
Section 32 says that, "in the absence of a contract to the contrary", the maker of a promissory note is bound "to pay the amount thereof at maturity according to the…
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Under the Negotiable Instruments Act, 1881, the maker of a promissory note is bound to:
Answer and explanation
Correct answer B
Section 32 says that, "in the absence of a contract to the contrary", the maker of a promissory note is bound "to pay the amount thereof at maturity according to the apparent tenor of the note". He is the principal debtor, so his duty does not depend on any notice of dishonour, and he need not pay before maturity.
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