Question

State any three features of a promissory note.​

Answer 1

Some key features of promissory notes are as follows,

• It must be in writing.

• It must contain an unconditional promise to pay.

• The sum payable must be certain.

• The promissory notes must be signed by the maker.

• It must be payable to a certain person.

• It should be properly stamped.

Answer 2

Explanation:

Characteristics of Promissory Note

There must be a clear and unconditional promise to pay a certain sum to a specified person or on-demand. It must be drawn and duly signed by the maker. It must be properly stamped. ... Payment is to be made in the country's legal currency.