The question (15 marks)
State the essential elements of a promissory note and explain what a draftsman must put into one, and what he must keep out of it, if the document is to remain a promissory note. Draft a promissory note for Rs. 1,50,000/- payable on demand with interest, using assumed particulars. (15 marks)
MU Module I, promissory note; pack ch. 01 and quick-reference sheets 1 and 3.
Plan your answer on paper before you look at the authorities — issue first, then the rule, then apply it to these facts.
It tests Unit 1 · Letters, Receipts, Notes, Affidavits and Schedules of Drafting, Pleading and Conveyancing – I.
Authorities you will need
- Negotiable Instruments Act 1881, section 4
- Negotiable Instruments Act 1881, section 13
- Negotiable Instruments Act 1881, section 87
How an answer is marked
A full-marks answer names the issue in one line, states the rule with its section, cites the authority, applies it to these facts and concludes — in that order. The app's model answer for this question is written in exactly that shape, with a checklist to mark your own attempt against.