PROMISSORY NOTES

PROMISSORY NOTES

A promissory note is an unconditional promise in writing, made by one person to another, signed by the maker who is 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 specific person or to bearer.

Ask to certainty of payment, it has been held that a document expressing a sum to be payable “on or before” a stated date introduced uncertainty and so was not a promissory note (Williamson and Ors V Rider)