A promissory note states when payment will be made and how much money will be paid to the seller in return for immediate credit.

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A promissory note is a legal document that includes the borrower's promise to repay a loan with a specific amount of money at a certain date or upon demand. It is commonly used in transactions where immediate credit is needed, such as loans, mortgages, or sales of goods.

A Promissory Note States When Payment Will Be Made and How