NOTES PAYABLE Definition

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NOTES PAYABLE are all note obligations, including bank and commercial paper. Does not include trade notes payable.

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TRUST DEED is an instrument of conveyance of title to property wherein the transferee will be holding the title to the property on behalf of another person.

LIQUIDATION is the selling of all the assets of a debtor and the use of the cash proceeds of the sale to pay off creditors.

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