A Promissory Note Is Both a Debt and Evidence of the Debt

question 65

True/False

A promissory note is both a debt and evidence of the debt.

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Definitions:

Liability

A legal obligation or responsibility for any debts or damages resulting from one's actions or decisions.

Doctrine Of Direct Liability

A legal principle that allows an individual or entity to be held directly responsible for harm caused by their actions or omissions.

Scope Of Employment

Activities undertaken by an employee that fall within the duties and responsibilities of their job.

Taxicab

A motor vehicle licensed to transport passengers in return for payment of a fare, usually calculated by a meter.