Examlex
Four of the five choices listed below are related.Select the exception.
Promissory Note
A written promise to pay a specified amount of money to a designated person or entity by a certain date or on demand.
Maker
The individual or entity that creates or signs a negotiable instrument, committing to pay the specified sum to the holder.
Negotiable
Capable of being transferred or converted into cash or equivalent value, often used in reference to financial instruments.
Payable on Demand
Refers to a financial obligation that must be paid by the debtor when the creditor requests it.
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