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Controls the whether the user can edit the text content ($Text) of a note.
$ReadOnly does not affect other note attributes. By default new notes are editable. Besides various read-only system attributes, this attribute is normally used for notes that fetch their content from the web: you don't really want to modify their content or indeed, cannot.
When set to true, to select text in the note you must use Cmd+drag-select instead of the normal drag select.