What are the salient features of a Promissory Note?
Ans. a) A Promissory Note is made by the promiser who undertakes to pay the mentioned amount of Bill to the bearer of the Promissory Note.
b) Promissory Note is signed by a promiser.
c) A required stamp duty is levied on the Promissory Note.
d) The payment is done to the seller or person who is payee by the promiser