Law · Negotiable Instruments Act
Under the Negotiable Instruments Act, 1881, which of the following statements represents a valid unconditional promissory note?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1I acknowledge myself to be indebted to you for Rs. 10,000, to be paid on demand, for value received.✓
- 2I promise to pay Rs. 5,000 on C's death provided C leaves with me enough money to pay that sum.
- 3On demand, I promise to pay B or bearer Rs. 5,000.
- 4I promise to pay Q Rs. 7,000, 7 days after my marriage.
Correct answer
I acknowledge myself to be indebted to you for Rs. 10,000, to be paid on demand, for value received.
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