PROMISSORY NOTE Definition

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PROMISSORY NOTE, usually just called a note, is a NEGOTIABLE INSTRUMENT wherein the maker agrees to pay a specific sum at a definite time.

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PMSI is Purchase-Money Security Interest; it is normally a lien resulting from a purchase, e.g. an auto loan.

DUMPING is the selling of merchandise in a foreign country at, or, below cost in order to seize market share.

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