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Outline the characteristics of a promissory note.

Outline the characteristics of a promissory note.

Answers


Maurice
(i) It is an unconditional promise.

(ii) It must be written and signed by the maker.


(iii) It contains an engagement to pay a sum certain in money.

(iv) The sum is payable on demand or at a fixed or determinable future time.

(v) The sum is payable to the bearer, a specified person or his order.
maurice.mutuku answered the question on April 27, 2018 at 07:21

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