Asked by Petronel Ntimane on Jun 16, 2024
Verified
A promissory note is an instrument that involves three parties in three capacities.
Promissory Note
A written, legally binding agreement in which one party promises to pay another a specific sum of money by a set date.
- Distinguish the attributes and varieties of negotiable instruments.
Verified Answer
TR
Thomas RuggioJun 21, 2024
Final Answer :
False
Explanation :
A promissory note typically involves two parties: the maker (who promises to pay) and the payee (to whom the payment is to be made).
Learning Objectives
- Distinguish the attributes and varieties of negotiable instruments.