Name the parties to a promissory note. Explain any one.

1.	Name the parties to a promissory note. Explain any one.
Answer» Parties to a Promissory Note: a) Maker: He is the person who promises to pay the amount stated in the note. He is the debtor. b) Payee: He is the person to whom the amount is payable i.e. the creditor. c) Holder: He is the payee or the person to whom the note might have been endorsed.

Answer»

Parties to a Promissory Note:

a) Maker: He is the person who promises to pay the amount stated in the note. He is the debtor.

b) Payee: He is the person to whom the amount is payable i.e. the creditor.

c) Holder: He is the payee or the person to whom the note might have been endorsed.

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Name the parties to a promissory note. Explain any one.

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