19:43
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Simple English definitions for legal terms
spurious banknote
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A quick definition of spurious banknote:
A spurious banknote is a fake or counterfeit banknote that is not genuine and cannot be used as legal tender. It may be made from a counterfeit plate or have forged signatures of the issuing officers. A banknote is a promissory note issued by a bank that is payable to the bearer on demand and can be used as money. A spurious banknote is not a legitimate impression from a genuine plate and is not accepted as legal currency.
A more thorough explanation:
A spurious banknote is a type of banknote that is not genuine or legitimate. It may be created with forged signatures or made from a counterfeit plate. Banknotes are promissory notes issued by banks that are payable to the bearer on demand and can be used as money.
- A banknote that is made from a genuine plate but has forged signatures of the issuing officers is considered a spurious banknote.
- Another example of a spurious banknote is one that is not a legitimate impression from a genuine plate or is made from a counterfeit plate but is signed by the persons shown on it as the issuing officers.
These examples illustrate how a spurious banknote can be created through forgery or counterfeiting. Such banknotes can be used to deceive people into accepting them as genuine currency, causing financial loss to individuals and businesses.