What is Bought And Sold Notes?

Legal Definition
When 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.
-- Black's Law Dictionary
Legal Definition
Memoranda given by a broker to the respective parties on effecting a sale.
-- Ballentine's Law Dictionary