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MGMT611 GDB Spring 2019 Solution & Discussion

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Based on the provisions of Negotiable Instruments Act, 1881 briefly explain whether the following are promissory notes or not.
1.On demand, I promise to pay Sonu or order Rs. 5,000, for value received.
2.I promise to pay Adil or order Rs. 5,000 and 500 shares of Sigma Limited.
3.I promise to pay Mahi or order Rs. 5,000 with interest calculated at quarterly rests.
4.I promise to pay you or your successors on demand Rs. 10,000.
5.I am liable to pay Ahmad Rs. 5,000

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