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A 1926 promissory note from the Imperial Bank of India, Rangoon, Burma for 20,000 rupees plus interest. A promissory note, sometimes referred to as a note payable, is a legal instrument (more particularly, a financing instrument and a debt instrument), in which one party (the maker or issuer) promises in writing to pay a determinate sum of money to the other (the payee), [1] subject to any ...
These were promissory notes issued directly by the government. They came into wide usage during the war (1812–1815) to make up for the lack of bullion in Upper and Lower Canada. Unlike the card money used in the late 17th century, army bills could be and were in fact exchanged for gold coin once the war had ended.
A promissory note, on the other hand, is a legal instrument (more particularly, a financing instrument and a debt instrument), in which one party (the maker or issuer) makes an unconditional to pay a determinate sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under specific terms ...
Commercial paper, in the global financial market, is an unsecured promissory note with a fixed maturity of usually less than 270 days. In layperson terms, it is like an "IOU" but can be bought and sold because its buyers and sellers have some degree of confidence that it can be successfully redeemed later for cash, based on their assessment of the creditworthiness of the issuing company.
A due-on-sale clause is a clause in a loan or promissory note that stipulates that the full balance of the loan may be called due (repaid in full) upon sale or transfer of ownership of the property used to secure the note. The lender has the right, but not the obligation, to call the note due in such a circumstance.
By agreement dated the 1st November 1881, and made between the Montreal and Sorel Railway Company, of the one part, and Alexander Murray and John Rankin, of the other part, in consideration of Alexander Murray and John Rankin agreeing to endorse and discount upon their credit the promissory notes of the Railway Company to the amount of 300,000 ...
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