Which of the following characteristics does NOT apply to a promissory note?

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It is required to be documented in writingIt includes an unconditional commitment to payIt is payable to whoever holds itIt must bear the signature of the issuerNone of the above

Explanation

Options A, B, and D describe essential features of a promissory note. However, option C is incorrect because under the Negotiable Instruments Act, a promissory note is not payable to the bearer; it specifies a particular payee. Therefore, being payable to the bearer is not a characteristic of a promissory note.