What is referred to as the written evidence of a debt and its repayment terms?

The correct answer is a note. A note, often called a promissory note, is a legal document that represents a written promise to pay a specified amount of money at a certain time, and it outlines the terms of repayment. This document includes critical information such as the amount borrowed, the interest rate, the payment schedule, and the maturity date. It acts as evidence of the debt and can be enforced in a court of law.

In contrast, a mortgage is an instrument that secures the loan against a property. While it is related to the debt, it does not itself outline the specific repayment terms. A lease is a contract between a landlord and a tenant, relating to the rental of property rather than a loan. A deed is a legal document that conveys ownership of real estate but does not pertain to the terms of debt repayment. Therefore, the note is the most precise term for written evidence of a debt and its repayment conditions.