"I promise to pay the bearer the sum of 10 rupees". where is the statement written and what do you understand from the statement?
Dear student,
Such statements are written on banknotes. "I promise to pay the bearer the sum of 10 rupees." This statement in particular is mentioned on a 10 rupee note. This tells us that the note is an authorised token which is used by one person to purchase goods from another, the bank is liable to pay the value of the banknote to its bearer.
Regards
Such statements are written on banknotes. "I promise to pay the bearer the sum of 10 rupees." This statement in particular is mentioned on a 10 rupee note. This tells us that the note is an authorised token which is used by one person to purchase goods from another, the bank is liable to pay the value of the banknote to its bearer.
Regards