CA Foundation doubt
I had a doubt can anyone please clear that If a condition is mentioned in PN as if a person doesn't die I'll pay is this conditional or unconditional
Asked by Varshika1 Oct 2026503 views
CA Foundation doubt
Asked by Varshika1 Oct 2026503 views
Varshika · 1 Oct 2026
Thank you
Shivaprasad.M. · 1 Oct 2026
The promise “If a person does not die, I will pay” is a conditional promise. A Promissory Note (PN) must contain an unconditional undertaking to pay a certain sum of money. Therefore, it is NOT a valid Promissory Note because the payment depends on the condition that the person does not die. ✅ Answer: Conditional — hence, not a valid Promissory Note.
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