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Meaning of commercial paper

commer'cial pa"per

Pronunciation: [key]
  1. negotiable paper, as drafts, bills of exchange, etc., given in the course of business.
  2. corporate promissory notes, usually short-term and unsecured, sold in the open market.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.