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note payable

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note payable

noun
a note promising to pay a certain amount of money at a certain time 
WordNet® 3.0, © 2006 by Princeton University.
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Financial Dictionary

note payable

A debt owed to a lender and evidenced by a written promise of payment. Note payable, an entry on the liabilities side of many corporate balance sheets, indicates that a certain dollar amount of loans will be repaid to the lenders at a future time.

Wall Street Words: An A to Z Guide to Investment Terms by David L. Scott.
Copyright © 2003. Published by Houghton Mifflin.
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