Development of the banknote began in the Tang Dynasty during the 7th century, with local issues of paper currency, although true paper money did not appear until the 11th century, during the Song Dynasty.
A contract typically does not have to be notarized. A notary public (or simply notary) provides an acknowledgment that the signature appearing on the document is that of the person whose signature it purports to be. There is a requirement that some documents be notarized, such as a real property deed.
Documents are most commonly executed as simple contracts. A contract is made binding on the date that both parties intend that it is to come into effect, which is typically evidenced by both parties signing the agreement. There is no requirement for the signature to be witnessed. Simple contracts have a statutory limitation period of six years.