Which of the following is not true in the context of a promissory note?
A promissory note must contain an unconditional undertaking to pay, so the statement "Such a promise must be conditional." is not true; the requirements of writing and…
Choose your answer
Which of the following is not true in the context of a promissory note?
Answer and explanation
Correct answer C
A promissory note must contain an unconditional undertaking to pay, so the statement "Such a promise must be conditional." is not true; the requirements of writing and signature by the maker, a promise to pay, and payment of money only are correct.
Practice for these exams
-
UGC NET Law
See pack details on LawMint.net -
All India Bar Examination (AIBE)
Subject revision
See pack details on LawMint.net -
CUET PG Law (LL.M.)
Subject revision