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What is a promissory note??
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A promissory note, sometimes referred to as a note payable, is a legal instrument, in which one party promises in writing to pay a determinate sum of money to the other, either at a fixed or determinable future time or on demand of the payee, under specific terms.
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Explanation:
A promissory note is a financial instrument that contains a written promise by one party to pay another party a definite sum of money,either on demand or at a specified future data.
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