promissory note


promissory note
A document that is a negotiable instrument and contains a promise to pay a certain sum of money to a named person, to that person's order, or to the bearer at a specified time in the future. It must be unconditional, signed by the maker, and delivered to the payee or bearer. They are widely used in the USA but are not in common use in the UK. A promissory note cannot be reissued, unless the promise is made by a banker and is payable to the bearer, i.e. unless it is a banknote.

Accounting dictionary. 2014.

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  • promissory note — see note Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. promissory note …   Law dictionary

  • Promissory note — Promissory Prom is*so*ry, a. Containing a promise or binding declaration of something to be done or forborne. [1913 Webster] {Promissory note} (Law), a written promise to pay to some person named, and at a time specified therein, or on demand, or …   The Collaborative International Dictionary of English

  • Promissory note — (engl., spr. prommissĕrĭ nōt), im Gebiete des englischen Rechtes ein dem eignen (trocknen) Wechsel entsprechender Verpflichtungsschein …   Meyers Großes Konversations-Lexikon

  • promissory note — An unconditional, written, signed promise to pay a certain amount of money on demand or at a certain date defined in the future. (Dictionary of Canadian Bankruptcy Terms) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

  • promissory note — ► NOUN ▪ a signed document containing a written promise to pay a stated sum …   English terms dictionary

  • promissory note — n. a written promise to pay a certain sum of money to a certain person or bearer on demand or on a specified date …   English World dictionary

  • Promissory note — A 1926 Promissory Note from the Imperial bank of India, Rangoon, Burma for 20,000 Rupees plus interest A promissory note is a negotiable instrument, wherein one party (the maker or issuer) makes an unconditional promise in writing to pay a… …   Wikipedia

  • Promissory note — Written promise to pay. The New York Times Financial Glossary * * * promissory note promissory note ➔ note1 * * *    A note that represents a promise by a borrower to repay a loan. Promissory notes are not classed as securities. Failure to pay a… …   Financial and business terms

  • promissory note — A written contract between a borrower/debtor and a lender/creditor in which the borrower agrees to repay a loan granted by the lender. The contract specifies the amount of the loan and the terms of repayment. American Banker Glossary Written… …   Financial and business terms

  • promissory note — [[t]prɒ̱mɪsəri noʊt, AM sɔːri[/t]] promissory notes N COUNT A promissory note is a written promise to pay a specific sum of money to a particular person. [mainly AM] ...a $36.4 million, five year promissory note …   English dictionary

  • promissory note — UK [ˈprɒmɪsərɪ ˌnəʊt] / US [ˈprɑmɪˌsərɪ ˌnoʊt] noun [countable] Word forms promissory note : singular promissory note plural promissory notes a document giving the details of your promise to pay someone a particular amount of money by a specific… …   English dictionary