Question

How do promissory notes work?

Answer 1

A promissory note is a legitimate promise to reimburse cash acquired. Individuals can acquire cash from one another, or from banks and other loaning organizations. At the point when somebody gets cash, a promissory note is composed to legitimately ensure both the payor and the payee.

Also read:

• What Is Promissory Note?
• Difference Between Bill of Exchange and Promissory Note