SSC CGL Exam > SSC CGL Videos > SSC CGL Tier 2 - Study Material, Online Tests, Previous Year > Promissory note and Parties to a Promissory Note
Promissory note and Parties to a Promissory Note Video Lecture | SSC CGL Tier 2 - Study Material, Online Tests, Previous Year
FAQs on Promissory note and Parties to a Promissory Note Video Lecture - SSC CGL Tier 2 - Study Material, Online Tests, Previous Year
| 1. What is a promissory note? |  |
Ans. A promissory note is a legally binding document that outlines the terms and conditions of a loan or debt. It serves as a written promise from the borrower to repay the lender a specific amount of money within a specified time frame.
| 2. Who are the parties involved in a promissory note? | |
Ans. The parties involved in a promissory note are the borrower, also known as the maker, and the lender, also known as the payee. The borrower is the individual or entity who borrows the money, while the lender is the individual or entity who lends the money.
| 3. What information should be included in a promissory note? | |
Ans. A promissory note should include essential information such as the names and contact details of both the borrower and lender, the principal amount of the loan, the interest rate (if applicable), the repayment terms, and any other terms or conditions agreed upon by both parties.
| 4. Can a promissory note be modified or amended? | |
Ans. Yes, a promissory note can be modified or amended if both parties agree to the changes. It is essential to document any modifications or amendments in writing and have both parties sign and date the revised promissory note to ensure its legality and enforceability.
| 5. What happens if the borrower fails to repay the loan as specified in the promissory note? | |
Ans. If the borrower fails to repay the loan as specified in the promissory note, the lender has the right to take legal action to recover the outstanding amount. This may include filing a lawsuit, obtaining a judgment against the borrower, and pursuing collection efforts such as wage garnishment or asset seizure.
About this Video
4.66/5
Rating
Sep 22, 2025
Last updated
Video Description: Promissory note and Parties to a Promissory Note for SSC CGL 2025 is part of SSC CGL Tier 2 - Study Material, Online Tests, Previous Year preparation.
The notes and questions for Promissory note and Parties to a Promissory Note have been prepared according to the SSC CGL exam syllabus.
Information about Promissory note and Parties to a Promissory Note covers all important topics for SSC CGL 2025 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Promissory note and Parties to a Promissory Note.
Introduction of Promissory note and Parties to a Promissory Note in English is available as part of our SSC CGL Tier 2 - Study Material, Online Tests, Previous Year for SSC CGL & Promissory note and Parties to a Promissory Note in
Hindi for SSC CGL Tier 2 - Study Material, Online Tests, Previous Year course. Download more important topics related with notes, lectures and mock test series for
SSC CGL Exam by signing up for free.
Description
Video Lecture & Questions for Promissory note and Parties to a Promissory Note Video Lecture | SSC CGL Tier 2 - Study Material, Online Tests, Previous Year - SSC CGL full syllabus preparation | Free video for SSC CGL exam to prepare for SSC CGL Tier 2 - Study Material, Online Tests, Previous Year.
Information about Promissory note and Parties to a Promissory Note
Here you can find the meaning of Promissory note and Parties to a Promissory Note defined & explained in the simplest way possible.
Besides explaining types of Promissory note and Parties to a Promissory Note theory, EduRev gives you an ample number of questions to practice Promissory note and Parties to a Promissory Note tests,
examples and also practice SSC CGL tests.
|
1334 videos|1437 docs|834 tests
|
Related Searches
Previous Year Questions with Solutions
,Important questions
,Previous Year
,ppt
,Sample Paper
,past year papers
,Online Tests
,Semester Notes
,Objective type Questions
,mock tests for examination
,Extra Questions
,Promissory note and Parties to a Promissory Note Video Lecture | SSC CGL Tier 2 - Study Material
,Free
,shortcuts and tricks
,practice quizzes
,Viva Questions
,Exam
,Online Tests
,Promissory note and Parties to a Promissory Note Video Lecture | SSC CGL Tier 2 - Study Material
,study material
,video lectures
,Summary
,Promissory note and Parties to a Promissory Note Video Lecture | SSC CGL Tier 2 - Study Material
,Previous Year
,MCQs
,Online Tests
,Previous Year
;
Study Promissory note and Parties to a Promissory Note on the App
Students of SSC CGL can study Promissory note and Parties to a Promissory Note alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Promissory note and Parties to a Promissory Note,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Promissory note and Parties to a Promissory Note is prepared as per the latest SSC CGL syllabus.
|
© EduRev
|
Education Revolution
|
|
Signup on EduRev and stay on top of your study goals
10M+ students crushing their study goals daily