Section 38: Statement of duty payable on promissory note containing guarantee

Where an instrument under hand only contains both a promissory note by a principal debtor and a guarantee by a surety but there is no memorandum of charge, pledge or deposit or other form of security, such instrument shall be stamped both as a promissory note and as a guarantee, and all other matter contained in a promissory note which would be liable to duty if contained in a separate instrument shall be charged separately.