Promissory note: written instrument with an unconditional undertaking to pay to order or bearer; conditional instruments excluded. A promissory note is an instrument in writing (not a bank-note or 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. Simple promises to pay and acknowledgments of debt payable on demand qualify; IOUs, conditional promises, obligations with deductions, contingent payments, and combined payment-and-delivery instruments do not qualify.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Promissory note: written instrument with an unconditional undertaking to pay to order or bearer; conditional instruments excluded.
A promissory note is an instrument in writing (not a bank-note or 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. Simple promises to pay and acknowledgments of debt payable on demand qualify; IOUs, conditional promises, obligations with deductions, contingent payments, and combined payment-and-delivery instruments do not qualify.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
