A Promissory Note Is a Written Promise to Pay a Specified

question 20

True/False

A promissory note is a written promise to pay a specified amount of money either on demand or at a definite future date.

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Definitions:

Finder

An individual or entity that locates, identifies, or recovers property or information, potentially earning a fee or commission for their services.

Bailor

An individual who temporarily entrusts possession of personal property to another, known as the bailee, under a bailment agreement.

Transfers Possession

The act of passing the physical control or ownership of an item, property, or asset from one party to another.

Personality

The combination of characteristics or qualities that form an individual's distinctive character and psychological identity.