Memoranda given by a broker to the respective parties on effecting a sale.
Definition of Bought And Sold Notes
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Definitions from Black's Law Dictionary: 2nd Edition and Ballentine's Law Dictionary as are available for each term in each dictionary.
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Ballentine's Law Dictionary -
Black's Law Dictionary: 2nd EditionWhen a broker is employed to buy and sell goods, he is accustomed to give to the buyer a note of the sale, commonly called a "sold note," and to the seller a like note, commonly called a "bought note," in his own name, as agent of each, and thereby they are respectively bound, if he has not exceeded his authority. Saladin v. Mitchell, 45 III. 83; Keim v. Lindley (N. J. Ch.) 30 Atl. 1070.