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What is the name of paper notes that promise to repay money

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  • 03-02-2021

Answer:

Explanation:

A promissory note, or “promise to pay”, is a note that details money borrowed from a lender and the repayment structure. The document holds the borrower accountable for paying back the money (plus interest, if any). There are 2 types of promissory notes, secured and unsecured.

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