Promissory Note is a written, dated and signed two-party instrument containing an unconditional promise by the maker to pay a definite sum of money to a payee on demand or at a specified future date.

Promissory Note is a written, dated and signed two-party instrument containing an unconditional promise by the maker to pay a definite sum of money to a payee on demand or at a specified future date.

Promissory notes must expressly fulfill the following essential requirements:

1. the expressions "to the order" or "promissory note" in the note’s language.
2. the unconditional promise to pay the designated certain amount;
3. the maturity date;
4. the place of payment;
5. the name of the person to whom or to whose order payment must be performed;
6. the date and place of issuance of the promissory note;
7. the issuer’s signature.

General Crossing and Special Crossing in cheques

 What is a promissory note? What are the essentials of Promissory Notes

 What is a bill of exchange?

 Essentials of a bill of exchange

 Characteristic of a Bill of Exchange

 The procedure for transfer a bill of exchange-

 Difference between a promissory note and a bill of exchange.

 Dishonour of cheques

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