A signed document containing a written promise to pay a stated sum to a specified person or the bearer at a specified date or on demand.
- A modern version of the promissory notes is the sterling commercial paper or certificate of deposit.
- The days when cash, a cheque or a promissory note were the only methods of payment have passed.
- So against my counsel, Sid signed a promissory note for the $50,000 and opened up a second store in a new city.
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