Banknote
/ˈbæŋkˌnoʊt/
Definitions
- (n.) A promissory note issued by a bank, especially a central bank, payable to the bearer on demand and legal tender for debts.
The banknote was accepted as valid currency in all transactions.
Forms
- banknotes
Related terms
See also
Commentary
In legal drafting, distinguish banknotes from coins and other forms of currency to clarify negotiability and legal tender status.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.