Q512
Which of the following is/are true about the Negotiable Instruments Act, the Promissory Note? 1. Definition of Promissory Note is given in section 8 of the Negotiable Instrument Act 2. Containing an unconditional undertaking 3. To pay a certain sum of money only to a specific person or the bearer 4. The seller is bound to accept the promissory note 5. A document was written and signed by the payer/maker
A.
2, 3 and 5
B.
2, 3 and 4
AnswerC.
1, 2, 3 and 4
D.
All of the above
Answer: Option B
Solution
Answer: Option B
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