_Promissory Note_--A promise, signed by the maker or makers, to pay a stated sum at a specified time and place. [Illustration: Promissory Note] _Pro Rata_--A distribution of money or goods in proportionate parts. _Protest_--A formal notice acknowledged before a notary that a note or draft was not paid at maturity, and that the maker will be held responsible for the payment. _Quotation_--A price named for a given article or for services. _Ratify_--To approve; to sanction the acts of an agent. _Raw Material_--Material to be manufactured into other products--as iron ore, pig iron, lumber, etc. _Real Estate_--Primarily refers to land, although buildings are frequently included. _Rebate_--An allowance or deduction. See Allowance. _Receipt_--An acknowledgment that money or something of value has been received. _Receiver_--One appointed to take charge of the affairs of a corporation, either solvent or insolvent, and administer its affairs under orders of the court. _Remittance_--Money or funds of any character transmitted from one place to another. [Illustration: Power of Attorney] _Renewal Note_--A new note given to take the place of a note that is due. _Rent_--A payment for the use of property owned by another. _Resources_--Synonymous with assets. _Revenue_--Income of a business. _Revoke_--To recall authority of another to act as agent. _Royalty_--A stipulated amount paid to the owner of a mine, patent, copyright, etc., usually based on sales. The owner of a copyright receives a royalty based on the number of books sold. [Illustration: Receipt] _Schedule_--Inventory of goods or statement of prices. _Sight Draft_--A draft payable on presentation or at sight. _Solvent_--Able to pay one's debts. _Statement_--Commonly used to designate a list of bills to customers during a stated period. Also used to designate a financial summary showing profits and losses of a business. _Stockholder_--An owner of stock in a corporation or joint stock company. _Storage_--The charge for keeping goods in a store or warehouse. _Surety_--One who has guaranteed or made himself responsible for the acts of another. _Syndicate_--A combination of capitalists, usually temporary, for the conduct of some financial enterprise. _Tare_--The amount deducted from gross weights to cover weight of packages--as crates, boxes, barrels, etc. _Tariff_--A schedule of prices, as freight tariff. The duties imposed on imports or exports. _Terms_--The conditions governing a given sale. "Terms cash" means that payment is to be made as soon as goods are delivered. _Tickler_--Memoranda of matters requiring attention in the future, arranged according to dates. _Time Draft_--A draft which matures at some future date. _Trade Discount_--The discount allowed by a manufacturer to a jobber or by a jobber to a retailer. [Illustration: Statement] _Trade Mark_--See Brand. _Ultimo_--Principally used in correspondence to designate last month.