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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 ...
Bills of Exchange, Promissory Notes, Drafts and like are common forms of money that are as old as commerce itself. In fact, all the worlds currencies, including the Federal Reserve Note, is just that, a promissory Note. The note is only given value when any two or more parties agree that it has a specific value. Otherwise, it's just paper!
According to section 4 of India's Negotiable Instruments Act, 1881, "a Promissory Note is a writing (not being a bank note or currency note), containing an unconditional undertaking, signed by the maker to pay a certain sum of money only to or to the order of a certain person or the bearer of the instrument". [14]
Notes receivable represents claims for which formal instruments of credit are issued as evidence of debt, such as a promissory note. The credit instrument normally requires the debtor to pay interest and extends for time periods of 30 days or longer.
Microsoft Money is a discontinued personal finance management software program by Microsoft. It has capabilities for viewing bank account balances, creating budgets, and tracking expenses, among other features. [ 1 ]
These notes were made receivable for the bonds of the National loans, for all debts due to or from the United States, except duties on imports and interest on the public debt, and were also declared a legal tender. In March, 1863, the issue of notes for parts of a dollar was authorized to an amount not exceeding fifty millions of dollars.
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