Under the Negotiable Instruments Act, 1881, which of the following expressions is NOT considered a valid promissory note?

Question

Law · Mercantile Law

Verified Solution4 OptionsUpdated: October 2026👁️1 View

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Correct answer

'I owe you Rs. 500'

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Answer 1

'I acknowledge myself to be indebted to Shyam Rs. 1000, to be paid on demand'

Answer 2

'I promise to pay Ram Rs. 500'

Answer 3

'I promise to pay Krishna Rs. 1000'

Answer 4

'I owe you Rs. 500'

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