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promissory
01
relating to a promise or commitment to fulfill an obligation or debt at a specified time in the future
Example
The company issued promissory bonds to raise capital for its expansion project.
The bank accepted his promissory IOU as collateral for the short-term loan.
They drafted a promissory agreement outlining the terms of their partnership and the distribution of profits.
Example
The company issued promissory bonds to raise capital for its expansion project.
The bank accepted his promissory IOU as collateral for the short-term loan.
They drafted a promissory agreement outlining the terms of their partnership and the distribution of profits.
She provided a promissory letter to assure the landlord that rent would be paid by the end of the month.
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