Check Indian currency note and you will find wordings similar to this. (marked above)
"I promise to pay the bearer a sum of…."
Hmm... What does this mean?
The reserve bank of the India (Government of India/Governor signed) promises that the person who possesses the currency note (i.e the bearer) will be eligible to be paid the amount mentioned on that currency note.
Usually legal notes mention every details. So
"I promise to pay the bearer a sum of 500 Rupees" thats it .. does not talk if the promissory note needs to be given or any date of validity.
So can I ask for money showing the 500 note and not exchange it... and keep collecting
This is suppose to be an Illogical Logic ... So dont be surprised. :)
