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To All Bankers & Banking Aspirants. The

he Sec. 4 sponsoredlinks
of

the

negotiable

The Indian Bank's Associ...

instruments act defines a

Upcoming Bank Exam

Promissory Note as an

Notifications 2015 -16

Instrument in writing (not being a

bank note or a currency note)
containing

an

unconditional

SAIL Recruitment Of
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undertaking, signed by the maker,

topayacertainsumofmoneyonly
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person or to the bearer of the

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noteandpromisestooneperspay

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F Inance Minister Arun Jaitley

iscalledthemakerandtheperson

Today (28th February 2015) Presented The

to whom the amount is payable is

Union Budget For The Year 2015-16 Aimed

calledthepayee.Itisalwaysdrawn
by the debtor in favour of creditor.

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A promissory note must be in

Results Out

writing,containinganunconditional

F Riends, The State Bank Of

promisetopayacertainmoneyto
a certain person. It must be duly

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Essential Characteristics of a
PromissoryNote:

Link For It's Administrative Officers (ScaleI) Recr...

Home 1.
English
Aptitude
Reasoning
G.K.
Writing:Thepromissorynote
United India
Associates Clerks Online Exam
Insurance AO
tobevalidmustbeinwriting.
2015
Exam Special
Computers Oral
Current
Affairs
2015
Notifications
2015
promise to pay certain
H I Friends, Myself Y Yogesh Reddy , A
2014
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sum after some time is not

Bank Aspirant From Hyderabad Take The

called a promissory note. It

Privilege Of Sharing My Experience Of The

maybeinanyformwrittenor
printed.
2. Promise

87th Academy Awards / Oscars

to

Pay

The

promissory note to be valid

must

SBI Ass. Clerk Exam...

contain

express

undertakingorpromisetopay
certain amount on certain
date. A mere accepting of a
debtisnotpromissorynote.A

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Important Details You Should
Know About 14th Finance
Commission Of India

valid promissory note must

F Riends, As You Know, The 14th Finance

contain

Commission Is Recently In News. It Is

the

following

sentence.

Definitely Going To Be One Of The

Important Topics For Upco...

"IPromisetopayXon

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2014
Pdf
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order

Rs.

_______________/"
3. Unconditional Undertaking
: The promise to must be
unconditional, absolute and
should

not

depend

on

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March (1)
February (270)
January (247)
December (160)
November (136)

happeningornothappeningan

October (170)

event.

September (172)

For

example,

the

documentcontainsasentence.
"I promise to pay as soon as
possible a sum of Rs. 10,000.
It cannot be identified as
promissory
premisses

note
will

such
create

August (188)
July (175)
June (138)
May (130)
April (91)

uncertainty of payment and

March (102)

thereforeitisnotapromise.

February (183)

4. Signed by the Maker : The

January (187)

promissory note to be valid

December (145)

must be signed by the debtor

November (99)

whomakesit.Itcanbesigned
by the agent also, but the

SSC CGL
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Agent must specify that he is

signing on behalf of a debtor
otherwisehewillbepersonally

October (109)
September (87)
August (81)
July (97)
June (114)

liable.
5. ThemakerMustbeCertain

May (88)

: The promissory note must

April (83)

showclearlywhoistheperson

March (83)

undertaking

February (65)

to

pay

the

amount. Maker is taken as

certain if from the description
of

the

maker,

sufficient

indication follows about his

identity.
6. PayabletoaCertainPerson

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January (102)
December (87)
November (38)
October (114)
September (64)
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PromissoryNoteAbriefIntroductionandFeatures|Gr8AmbitionZ

: The payee must be certain.

August (89)

the instrument must identify

July (46)

with certainty to whom the

June (48)

amount is payable. The payee

may be ascertained either by
name or designation. The
promissory note is payable
only to certain person named

May (60)
April (33)
March (2)
February (34)

or identified but not to a

January (13)

bearerondemand.

December (10)

7. Promise to Pay Money and

MoneyOnly:Thepromissory
note should contain a certain
sum of legal tender money

January (1)

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Protected

only but not goods. A promise

to deliver goods either in the
alternative

or

addition

to

money does not constitute a

promissorynote.
8. Amount Payable Must be
Certain:Theamountpayable
on promissory note must be
certain and definite. According
to Sec. 5 of the Negotiable
Instruments Act, the sum
payable

may

be

certain,

inspiteofthefactthat,
1. it includes future interest,
or
2. it

is

payable

indicated

at

rate

an
of

exchange,or
3. it is payable according to
thecourseofexchange.

AP Forest

9. Delivery Essential : The

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PromissoryNoteAbriefIntroductionandFeatures|Gr8AmbitionZ

promissory note is to be
delivered to creditor by the
debtor.Unlessitisdelivered,it
does not constitute as a
promissorynote.

SBI Specialist
Officers
Syallabus
And Study
Materials

10. Other Formalities : The

other

formalities

number,
consideration
usually

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IBPS IT
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Materials,
Bits

regarding

place,

date

etc.

though

essential

but

not

essential in law. But the

promissory note must be
properly stamped as required
bytheIndianStampsAct.
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VIJAYKUMARNAYAK
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FAROOK ayearago

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Neha ayearago

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sonalchandane
ayearago

forIBPS,anygraduatecan
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Anonymous ayearago

Ithink40questionsonly
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subbugoda ayearago

himam..,iwascompleted
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B.sc(phy,chemistry,maths)igot
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mewhattypeofquetionsasked
ininterviewonbasedgraduation
..Plzansit

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mercy ayearago

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