Asked by Shanelle Jacobs on May 16, 2024
Verified
A ________ is a signed agreement to pay a specified amount of money either on demand or at a definite future date.
Promissory Note
A tool used in finance that carries an explicit pledge by a party to give another party a defined sum of cash, which may be required instantly or at a later date agreed upon by both parties.
- Identify the terms and implications of using promissory notes in transactions.
Verified Answer
KR
Learning Objectives
- Identify the terms and implications of using promissory notes in transactions.