Simple English definitions for legal terms
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A credit instrument is a piece of paper that shows someone owes money to someone else. It can be a note, a bond, a loan, a check, or an invoice. People, companies, and governments use credit instruments to keep track of who owes them money and how much they owe.
Credit instrument
A credit instrument is a written document that shows someone owes money to another person or organization. Examples of credit instruments include bonds, loans, checks, and invoices. They are used by governments, companies, and individuals to borrow money or to show that someone owes them money.
These examples illustrate how credit instruments are used to document and manage debt. They provide a way for borrowers and lenders to formalize their agreements and ensure that everyone understands the terms of the transaction.