Which of the following is/are true about the Negotiable Instruments Act, the Promissory Note is
(I) Definition of Promissory Note is given in section 8 of the Negotiable Instrument Act
(II) Containing an unconditional undertaking
(III) To pay a certain sum of money only to a specific person or the bearer
(IV) The seller is bound to accept the promissory note
(V) A document was written and signed by the payer/maker
1
(I), (II) and (III)
2
(II), (III) and (V)
3
(II), (III), and (IV)
4
(I), (III) and (IV)