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Bill of Exchange — Account STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceAccountBill of Exchange3 Marks
Question
Define a Promissory Note.
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Answer

A Promissory Notes an instrument in writing (not being a bank note or a currency note) containing an unconditional undertaking signed by the maker to pay a certain sum of money only to or to the order of a certain person or to the bearer of the instrument.

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