Law · Negotiable Instruments Act
Which of the following correctly identifies the primary parties involved in a Promissory Note and their respective roles?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The maker, who makes the conditional promise to pay, and the drawer, to whom payment is made.
- 2The payee, who makes the promise to pay, and the maker, to whom the payment is promised.
- 3The drawer, who gives the order to pay, and the drawee, on whom the order is drawn.
- 4The maker, who makes the unconditional promise to pay, and the payee, to whom the payment is promised.✓
Correct answer
The maker, who makes the unconditional promise to pay, and the payee, to whom the payment is promised.
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