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__________________ cannot be a bearer instrument
Promissory Note
bill of exchange
Cheque
none of the above
- Promissory Note: A promissory note is a written promise to pay a specified sum of money to a certain person or bearer. However, it is generally not considered a bearer instrument because it specifies a payee.
- Bill of Exchange: A bill of exchange can be a bearer instrument if it is made payable to the bearer (e.g., “pay to the order of bearer”).
- Cheque: A cheque can also operate as a bearer instrument if it states “pay to bearer.”
- None of the above: This implies that none of the listed instruments can be bearer instruments, which is not the case here.
The correct answer is:
- ?? Promissory Note cannot be a bearer instrument.
By: Kamal Kashyap ProfileResourcesReport error
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