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Promissory note

Summary

A “document containing a written promise to pay a stated sum to a particular person,” identified by name, or the bearer of the note at a specified date, after a specified amount of time has passed, or on demand. The document was signed to make it legally binding. When the note was paid or otherwise invalidated, the payment might be recorded on the note, and often the signatures were removed, and the remaining note then functioned as a receipt.

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