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Commercial paper



Commercial paper, generic term for various business documents involving the payment of money. Such documents include drafts, promissory notes, and bills of exchange. In a strict sense, the term denotes a short-term promissory note issued by a corporation. The note is redeemable for its full value, plus interest, on a given date.



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21st Century Webster's Family Encyclopedia21st Century Webster's Family Encyclopedia - Clyde to Constable, John