The simple question that is agitated in this Original Petition filed by the defendant is whether the document on the basis of which the respondent filed the suit is a promissory note or bond. In the affidavit filed by him in lieu of his examination-in-chief in the trial court the petitioner sought to get it marked as a promissory note. The petitioner filed an objection to it. The court after hearing both parties held that it is a promissory note.

2. The document carries the label promissory note. The essential recitals in it are as follows:

"On demand I will pay Rs.22,00,000/- I have borrowed from you with interest at Rs.3/-per Rs.100/- per month".

It is attested by two witnesses.

3. Promissory note is defined in Section 4 of the Negotiable Instruments Act as follows:

A "promissory note" is an instrument in writing (not being a bank-note or a currency- note) containing an unconditional undertaking, signed by the maker, to pay a certain sum of money only to, or to the order of, a certain person, or to the bearer of the instrument."

4. The definition of bond is seen in Section 2(a) of the Kerala Stamp Act.

Bond includes-

(i) any instrument whereby a person obliges himself to pay mo