Deepa executes a document which states “I promise to pay Moni the sum of Rs.1000/- only with 8% per annum interest with effect from 1st November, 2018 for value received”. He gets it attested by 2 witnesses and hands it over to Moni. State, with reasons whether the document is a promissory note or a bill of exchange.
Answers
Answered by
1
Answer:
It is promissory note.
Explanation:
In case of Bill of exchange acceptance required. Here no acceptance is there. Hence it promissory note.
Similar questions