That wouldn't fly in the US, at least not with actual cash, i.e., bills. Notes are legal tender and can't be refused if you're paying off a debt with them. And

That wouldn't fly in the US, at least not with actual cash, i.e., bills. Notes are legal tender and can't be refused if you're paying off a debt with them. And I don't think early loan payoffs are legal anymore, so you could take out a loan one day and then just pay it off completely the next.