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  • A bank lends money to an individual under the terms of a loan agreement. The bank is obliged to provide the loa

A bank lends money to an individual under the terms of a loan agreement. The bank is obliged to provide the loan amount, and the individual is responsible for repaying it with interest. Decide.

Option: 1

A bank is promisee.


Option: 2

Individual is promisor.


Option: 3

There is no promisor and promisee in this contract.


Option: 4

A bank is promisor and individual is promisee.


Answers (1)

best_answer

The promisor is the party in a contract who makes a promise or undertakes an obligation.The promisee is the party to whom the promise is made. They are the recipients of the promise and have the right to expect and demand the performance of the promise made by the promisor. Hence, The bank is promisor and individual is promisee. Hence correct option is d.

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