Section 83Part 4 — Promissory Note
Promissory note defined
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A promissory note is an unconditional promise in writing, made by one person to another, signed by the maker engaging to pay, on demand or at a fixed or determinable future time, a sum certain in money to or to the order of a specified person, or to bearer.
An instrument in the form of a note payable to maker’s order is not a note within the meaning of this section unless and until it is endorsed by the maker.
A note is not invalid by reason only that it contains also a pledge of collateral security with authority to sell or dispose thereof.
A note which is, or on the face of it purports to be, both made and payable within the Islands is an inland note. Any other note is a foreign note.
Defined Terms
promissory note