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What Is A Promissory Note?

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A promissory note is a legal document related to financial information. It is used when one party, the issuer, is making a "promise" to pay a certain amount of money to another party, known as the payee. This is a promise in writing, so it is legally binding. The promissory note may detail the repayment conditions or it may be open-ended.

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© 2015 King Street Labs LLC.

© 2015 King Street Labs LLC.

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