McqMate
| Q. |
What is the meaning of ‗I promise to pay‘ clause written on notes? |
| A. | The bank’s obligation to pay the value of banknote does not arise out of a contract but out of statutory provisions. |
| B. | The bank’s obligation to pay the value of banknote does arise out of a contract but not out of statutory provisions. |
| C. | This obligation is neither due to a contract nor a statutory provision. |
| D. | It means that to pay you the value, there is sovereign guaranty. |
| E. | None of these. |
| Answer» A. The bank’s obligation to pay the value of banknote does not arise out of a contract but out of statutory provisions. | |
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