TeachMeFinance.com - explain note
Note -- The binding legal document you sign when you get a loan. It lists the conditions under which you're borrowing and the terms under which you agree to pay back the loan (also called a promissory note or a mortgage note).
note -- an instrument bearing legal evidence of debt. A note is signed by the maker (borrower) and promises to pay a specified sum of money to the lender at a certain future date and place.
Note -- The abbreviated name for a promissory note, for information as to which see Promissory note. Note also is an abbreviation occasionally used for bank note, as a ten-dollar note or a five-pound note. To note a bill of exchange (or a promissory note) means to make a memorandum on it to the effect that it has been dishonored ; for additional information see Noting a bill.
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