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Promissory note as a debt security

Summary/Abstract: The article brings the concept of such financial instrument as promissory note. The authors are describing the beginning and the evolution of this instrument. They emphasize its Italian and German history. The article also refers to a definition, legal basis and some distinguishing features of promissory note listed. The next part is according to a moment when the commitment of promissory appears and when ends. Authors are also describing the specificity of this commitment. Last part is devoted to enumerate some characteristic types of promissory notes like endorsement, blank promissory notes and aval.

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