Your guide to promissory notes
- August 14, 2023
- Bill Maurer, anthropology and law, U.S. News & World Report, Aug. 14, 2023
“A promissory note is basically an IOU,” says Bill Maurer [dean and professor], director of the Institute for Money, Technology and Financial Inclusion at the University of California, Irvine. “It’s a written statement of a promise to pay a specific sum of money by a specific time. Think of it as an IOU that’s legally enforceable.”
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