Question

The promissory note is written by:

• A. Debtors
• B. Creditors
• C. Bank
• D. None of these

Hint:

Debtor = Maker of the promissory note. Creditor = Payee.

Answer 1

The Correct Option is A

Step 1: Understanding promissory notes.
A promissory note is a written promise made by one party (the debtor) to pay a certain sum of money to another party (the creditor).
Step 2: Analyzing the options.
(A) Debtors – Correct, because the debtor makes the promise to pay.
(B) Creditors – Incorrect, creditors receive the payment.
(C) Bank – Incorrect, though banks may hold promissory notes, they are not the writers.
(D) None of these – Incorrect.
Step 3: Conclusion.
Therefore, a promissory note is always written by the debtor.