Question

What is the Meaning of Promissory Note..??​

Answer 1

Answer:

A promissory note is a signed legal document that contains a written promise to pay a defined sum of money to a defined person on a stipulated date or on demand. A promissory note is a convenient way of repayment of huge amounts of money taken as loan.

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Answer 2

A promissory note is a financial instrument that contains a written promise by one party (the note's issuer or maker) to pay another party (the note's payee) a definite sum of money, either on demand or at a specified future date.

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