banknote meaning

  • A banknote (often known as a bill, paper money, or simply a note) is a type of negotiable instrument known as a promissory note, made by a bank, payable to the bearer on demand.
  • National banknotes are legal tender, meaning that medium of payment is allowed by law or recognized by a legal system to be valid for meeting a financial obligation.
  • The idea of using a durable light-weight substance as evidence of a promise to pay a bearer on demand originated in China during the Han Dynasty in 118 BC, and was made of leather.
  • Part-of-Speech Hierarchy
    1. Nouns
      • Countable nouns
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    1. en banknotes
    Source: Wiktionary
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    Meaning of banknote for the defined word.

    Grammatically, this word "banknote" is a noun, more specifically, a countable noun.
    Definiteness: Level 8
    Definite    ➨     Versatile