promissory notes that are freely transferable from one party to another are called
Promissory note If the promissory note is unconditional and readily saleable, it is called a negotiable instrument.[2]
Federal Reserve Note Federal Reserve Notes, also United States banknotes or U.S. banknotes, are the banknotes currently used in the United States of America. Denominated in United States dollars, Federal Reserve Notes are printed by the United States Bureau of Engraving and Printing on paper made by Crane & Co. of Dalton, Massachusetts. Federal Reserve Notes are the only type of U.S. banknote currently produced.[1] Federal Reserve Notes are authorized by Section 16 of the Federal Reserve Act of 1913[2] and are issued to the Federal Reserve Banks at the discretion of the Board of Governors of the Federal Reserve System.[3] The notes are then put into circulation by the Federal Reserve Banks,[4] at which point they become liabilities of the Federal Reserve Banks[5] and obligations of the United States.[3]