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- DictionaryProm·is·so·ry note/ˈprämisərē ˌnōt/
noun
- 1. a signed document containing a written promise to pay a stated sum to a specified person or the bearer at a specified date or on demand.
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- Promissory note
Negotiable instrument, wherein one party makes an unconditional promise in writing to pay a determinate sum of money to the other
A promissory note, sometimes referred to as a note payable, is a legal instrument (more particularly, a financing instrument and a debt instrument), in which one party (the maker or issuer) promises in writing to pay a determinate sum of money to the other (the payee), either at a fixed or determinable future time or on demand of the payee, under specific terms and conditions. Wikipedia
