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Simple English definitions for legal terms
bank bill
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A quick definition of bank bill:
A bank bill is another term for a banknote, which is a piece of paper money issued by a bank. A bankbook is a record of a person's account with a bank, also known as a passbook. A bank charter is a legal document that allows a bank to operate. Bank credit refers to the amount of money a bank is willing to lend to a customer. Bank discount is the interest that a bank charges in advance on a loan. A banker is a person who works in the banking industry. If someone is bankerout, it means they are bankrupt and cannot pay their debts.
A more thorough explanation:
A bank bill is a term used to refer to a banknote. It is a type of currency issued by a bank and is used as a medium of exchange.
- Banknote: A $20 bill issued by the Bank of America is an example of a bank bill.
Bank bills are legal tender and can be used to purchase goods and services. They are widely accepted and recognized as a form of payment.