Section 37 Stamp Duties Act

Section 37 of Stamp Duties Act 1939 is about Meaning of “promissory note”. It provides as follows:

(1) For the purposes of this Act, the expression “promissory note” includes any document or writing (except a bank note) containing a promise to pay any sum of money.

(2) A note promising the payment of any sum of money out of any particular fund which mayor may not be available, or upon any condition or contingency which may or may not be performed or happen, shall be deemed a promissory note for that sum of money.