App Logo

No.1 PSC Learning App

1M+ Downloads
Of the 2 types of promissory notes, the promissory note, payable after a predetermined period is called ---.

ABearer Promissory Note

BDemand Promissory Note

CUsuance Promissory note

DDiscounted Promissory Note

Answer:

C. Usuance Promissory note

Read Explanation:

There are two types of Promissory Notes:

  • Demand Promissory Note (Payable on Demand) 

  • Usuance Promissory note (Payable after a predetermined period) 


Related Questions:

Certificate of Deposits was introduced in India as per directions of
--- is an unsecured short term debt instrument, issued by Corporates and All Indian Financial institutions.
The transactions involving Negotiable Instruments in India is regulated by the law known as
When the maturity promissory note is on a public holiday, the instrument shall be deemed to be due on ----.
Noting is necessary in -----.