A written promise to pay a specific sum of money at a definite future date is called a promissory note.

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This is a true statement. A promissory note is a legally binding document that outlines the specifics of a loan agreement, including the amount of money borrowed, the interest rate, and the repayment terms. It is essentially a written promise to repay a specific sum of money at a future date.

A Written Promise to Pay a Specific Sum of Money