Question

The person in whose favour the promissory note is drawn is called ---.

• A. drawer
• B. endorser
• C. payee
• D. promisee

Answer 1

Answer:

D. promisee

PARTIES OF PROMISSORY NOTE:

• Drawer or Maker or Debtor or Promisor: The person who draws or make the promissory note 

• Drawee or Payee or Creditor or Promisee: 

• The person in whose favour the promissory note is drawn is called promisee. 

• Promissory note is defined in Section 4 of NI Act