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Which of the following is not a feature of a promissory note?
Accountingmedium
AIt must be in writing
BIt contains an unconditional promise to pay
According to the Negotiable Instrument Act, promissory note is not payable to the bearer. It must contain an order to pay. So this is not the characteristic of promissory note. Other options are the characteristics of promissory note.
DIt must be signed by the maker
Correct Answer: C. According to the Negotiable Instrument Act, promissory note is not payable to the bearer. It must contain an order to pay. So this is not the characteristic of promissory note. Other options are the characteristics of promissory note.
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