vachanapatr example and sentences
हिंदी मे अर्थ Meaning in english उदाहरण
It is an unsecured promissory note issued by a firm to raise funds for a short period The maturity period of commercial paper usually ranges from 90 days to 364 days.
The bill of exchange contains an unconditional order to pay a certain amount on an agreed date while the promissory note contains an unconditional promise to pay a certain sum of money on a certain date.
According to the Negotiable Instruments Act 1881, a promissory note is defined as an instrument in writing (not being a bank note or a currency note), containing an unconditional undertaking signed by the maker, to pay a certain sum of money only to or to the order of a certain person, or to the bearer of the instrument.
However, according to the Reserve Bank of India Act, a promissory note payable to bearer is illegal.
Therefore, a promissory note cannot be made payable to the bearer.Given are the examples of hindi word vachanapatr usage in english sentences. The examples of vachanapatr are provided according to its meaning(s) in english language i.e., promissory note.
Commercial paper is an unsecured promissory note issued by a firm to raise funds for a short period, varying from 90 days to 364 days.
It is an unsecured promissory note issued by a firm to raise funds for a short period The maturity period of commercial paper usually ranges from 90 days to 364 days.
The bill of exchange contains an unconditional order to pay a certain amount on an agreed date while the promissory note contains an unconditional promise to pay a certain sum of money on a certain date.
According to the Negotiable Instruments Act 1881, a promissory note is defined as an instrument in writing (not being a bank note or a currency note), containing an unconditional undertaking signed by the maker, to pay a certain sum of money only to or to the order of a certain person, or to the bearer of the instrument.
However, according to the Reserve Bank of India Act, a promissory note payable to bearer is illegal.
A promissory note does not require any acceptance because the maker of the promissory note himself promises to make the payment.
If Harish Chander endorses this promissory note in favour of Rohit then Rohit will become the payee.
Similarly, if Harish Chander gets this promissory note discounted from the bank then the bank will become the payee.
The term maturity refers the date on which a bill of exchange or a promissory note becomes due for payment.
संबंधित शब्द