Document ID: chunk:federal_register_of_legislation:C2012C00128:section:89
Version: federal_register_of_legislation:C2012C00128
Segment Type: section
Provision Reference: s 89
Character Range: 85532–86283

89  Promissory note defined

 (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 Australasia is an inland note. Any other note is a foreign note.