BANKNOTE
Banknote
A banknote is a type of negotiable instrument known as a promissory note, made by a bank, payable to the bearer on demand. When banknotes were first introduced, they were, in effect, a promise to pay the bearer in coins, but gradually became a substitute for the coins and a form of money in their own right. Banknotes were originally issued by commercial banks, but since their general acceptance as a form of money, most countries have assigned the responsibility for issuing national banknotes to a central bank. National banknotes are legal tender, meaning that medium of payment is allowed by law or recognized by a legal system to be valid for meeting a financial ...The above text is a snippet from Wikipedia: Banknote
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bank note
Noun
The above text is a snippet from Wiktionary: bank note
and as such is available under the Creative Commons Attribution/Share-Alike License.
banknote
Noun
- A piece of paper currency.
- A demand note issued by private banks presumably backed up by gold or silver coin.
The above text is a snippet from Wiktionary: banknote
and as such is available under the Creative Commons Attribution/Share-Alike License.