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Simple English definitions for legal terms
note of hand
Read a random definition: exercise value
A quick definition of note of hand:
A note of hand is a type of legal document that is similar to a promissory note. It is a written promise to pay a certain amount of money to someone else. The plural form of note of hand is notes of hand.
A more thorough explanation:
A note of hand is a type of promissory note. It is a written promise to pay a certain amount of money to a person or entity at a specific time in the future. Plural of note of hand is notes of hand.
John borrowed $500 from his friend and gave him a note of hand promising to pay back the amount with interest in six months.
Another example could be a business owner giving a note of hand to a supplier, promising to pay for goods received within 30 days.
These examples illustrate how a note of hand is a written promise to pay a specific amount of money at a specific time in the future.