( 1 ) THE two questions raised for our determination are :-

(1) What is the distinction between a 'bond' and a 'promissory note'; and (2) Whether for tihe purposes of the Stamp Act, in the definition of promissory note, the explanation to Section 13 of the Negotiable instruments Act can be engrafted in Section 4 of that Act ?

( 2 ) AS regards the second question, certain observations were made by a division Bench of this Court in Kodorilal v. Sukhlal, AIR 1968 Madh Pra 4 although Shri Pandey contended that those observations are obiter, the question being of frequent occurrence, it has been referred to this Bench.

( 3 ) SECTION 2 (5) of the Stamp Act defines a bond thus :-

' 'bond' includes- (a) any instrument whereby a person obliges himself to pay money to another, on condition that the obligation shall be void if a specified act is performed, or is not performed, as the case may be; (b) any instrument attested by a witness and not payable to order or bearer, whereby a person obliges himself to pay money to another and (c) any instrument so attested, where-by a person obliges himself to deliver grain or other agricultural produce to another. " and Section 2 (22) of