Question

A has taken 500 rs. Loan from b and a gives a promissory note and a promises to pay rs. 500 to b on the marriage day of b. Is it a valid promissory note

Answer 1

Answer:

S writes "I promise to pay 'B' a sum of Rs.500, seven days after my marriage with 'C"'. Is this a promissory note? Sol: Promissory note can be based on future event. The event should be certain, but date on which it will happen need not be certain.