What are the essentials of a promissory note?

An instrument to be a promissory note must fulfill the following essentials:

  • It must be in writing.

    PROMISSORY Note | 2012 The Awakening

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  • The promise to pay must be expressed. A mere acknowledgment of debt without express promise to pay is not promissory note.
  • The promise to pay must be unconditional. A promise to pay ‘when able’ or ‘as soon as I possibly can’ is conditional.
  • It must be signed by the maker.
  • The maker must be certain.
  • Promise must be to pay a certain sum.
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