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Question
State True or False with reason:-
There are three parties to a promissory note.
Options
True
False
MCQ
True or False
Solution
This statement is False.
There are only two parties to a promissory note, i.e. Drawer or maker of the note and drawee or payee of the note.
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Parties to a Promissory Note
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RELATED QUESTIONS
When the due date of bill drawn falls due on a public holiday, the payment must be made on the ___________ day.
State True or False with reason:-
Noting charges are to be borne by the drawer
Do you agree or disagree with the following statement:-
A bill before acceptance is called Promissory Note.
