A note is the
A) agreement allowing the installment lender to control the item being purchased.
B) promise to repay.
C) sales contract.
D) purchase agreement.
E) insurance agreement.

Question

Quizplus · Accepted Answer

A note is a legal document that serves as a written promise to repay a specific amount of money at a predetermined time or on demand. It is a binding agreement between a borrower and a lender and includes the terms and conditions of the loan, such as the interest rate, payment schedule, and any fees or penalties.

A Note Is the