Q:

What is pro-note? Is pronote is a legal instrument? which points are necessary for a pronote?

Thursday, February 15th, 2018 by saeedpk2010

Answers

  1. A written promise to pay money that is often used as a means to borrow funds or take out a loan. The individual who promises to pay is the maker, and the person to whom payment is promised is called the payee or holder. If signed by the maker, a promissory note is a negotiable instrument.

    Place, date and time and signature of maker are necessary on the promote,20 Adhesive stamps are also mandatory requirement for a valid promissory note.