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A 1926 promissory note from the Imperial Bank of India, Rangoon, Burma for 20,000 rupees plus interest. A promissory note, sometimes referred to as a note payable, is a legal instrument (more particularly, a financing instrument and a debt instrument), in which one party (the maker or issuer) promises in writing to pay a determinate sum of money to the other (the payee), [1] subject to any ...
The statement of payment is formatted the same and surrounded by the same engraved object as the $10 Demand Note and is located in the center of the note under the figure of Liberty. The demand statement is printed as "ON DEMAND THE UNITED STATES Promise To Pay Twenty Dollars To the Bearer".
(a) Except as provided in subsections (c) and (d), "negotiable instrument" means an unconditional promise or order to pay a fixed amount of money, with or without interest or other charges described in the promise or order, if it: (1) is payable to bearer or to order at the time it is issued or first comes into possession of a holder; (2) is ...
Loan agreements are documented via a compilation of the various mutual promises made by the involved parties. [ 2 ] [ 3 ] Prior to entering into a commercial loan agreement, the "borrower" first makes representations about his affairs surrounding his character, creditworthiness, cashflow, and any collateral that he may have available to pledge ...
Major differences distinguish letters of credit from "demand guarantees"; in the latter instrument the obligation to pay is conditioned within the terms of the bank's promise, therefore if the demand guarantee is payable upon the beneficiary's written first demand he is assured payment notwithstanding any defence related to any other underlying ...
Promise works with utilities and government agencies to provide flexibility in payments for people who can't cover their whole water or electricity bill at once. The company has seen enormous ...
In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language.
2. A performance or return promise is bargained for if it is sought by the promisor in exchange for his promise and is given by the promisee in exchange for that promise. 3. The performance may consist of an act other than a promise, or a forbearance, or the creation, modification, or destruction of a legal relation. [1]
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