GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

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Note


Synonyms:note payable, promissory note
Filed Under: financial-banking, investments, legal-contracts
Tags: banking, contract, investment, legal
 

Definition of note

note
1. A legal acknowledgement of a debt and the promise to pay it back. The note details the loan amount, interest rate, and loan term.

Related Terms and Acronyms:

  • certificate of sale   An affidavit issued at a judicial or tax sale that entitles the buyer to the deed to the property purchased after court confirmation.
  • commercial paper (CP)   Unsecured notes issued by companies that mature within nine months. Generally, commercial paper is issued only by the larger and more credit worthy companies.
  • contract   An agreement between two or more parties that can be enforced by law.
  • contract for deed (CFD)   An agreement for sale of property in which the buyer takes possession while making payments, but the seller holds title until full payment is made. Also called a land contract.
  • foreign currency (FCY)   Paper money and coins from other countries.
  • foreign exchange (F/X, FE, FOREX, FX)   Various instruments used to settle payments for transactions between individuals or organizations using different currencies (e.g., notes, cheques, etc.).
      ➥  Bank account transaction code.
  • index   A table of yields or interest rates being paid on debt (such as Treasury notes or bank deposits) that is used to determine interest-rate changes.
  • issuer   A legal entity that develops, registers, and sells securities including stocks, bonds and derivatives.
  • note rate   The percentage paid by a borrower for the use of money, usually expressed as an annual percentage on a promissory note.
  • promissory note (PN)   A written promise to repay a loan by a specified time.

More Related Terms and Acronyms

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