Full legislation
s.89
Definition of promissory note
(1)
A promissory note is an unconditional promise in writing made by one person to
another signed by the maker, engaging to pay, on demand or at a fixed or
determinable future time, a sum certain in money to, or to the order of, a specified
person or to bearer.
(2)
An instrument in the form of a note payable to maker’s order is not a note
within the meaning of this section, unless and until it is indorsed by the
maker.
(3)
A note is not invalid by reason only that it contains also a pledge of
collateral security, with authority to sell or dispose thereof.
(4)
A note which is, or on the face of it purports to be, both made and payable
within Hong Kong is an inland note. Any other note is a foreign note.
(Amended
60 of 1999 s. 3
)
[cf. 1882 c. 61 s. 83 U.K.]