What is Promissory Notes, Promissory Notes Defination and Meaning

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Short-term credit instrument consisting of a written promise by one person (maker) to pay a specified amount of money to another on demand or at a given future date. Promissory notes are often negotiable and may be secured by the pledge of collateral. Promissory notes were in use in Europe during the Renaissance. The instrument…

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What is Trade Acceptance, Trade Acceptance Defination and Meaning

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Short-term credit instrument consisting of a written order requiring a buyer to pay a specified sum at a given date to the seller, signed by the buyer as an indication of his intention to honour his obligation. Acceptances are used in financing export and import operations and in some domestic transactions involving staple commodities. An…

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