This section is from the book "Banking, Credits And Finance", by Thomas Herbert Russell. Also available from Amazon: Banking, credit and finance (Standard business).
These words are not legally necessary, although they usually appear on ordinary promissory notes. Thousands of good notes made without any value consideration are handled daily.

A Promissory Note.
The promise to pay of a negotiable note must be unconditional. It cannot be made to depend upon any contingency whatever. A note made payable in anything but money is simply a form of contract and is not a negotiable instrument.
 
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