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Salient features of a promissory note, accounting, Basic Statistics
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
Posted Date: 3/26/2012 1:08:59 PM | Location : United States
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