Search results
- 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.
Powered by Oxford Dictionaries
Feb 27, 2024 · A promissory note is a written promise by one party (the note's issuer or maker) to pay another party (the note's payee) a definite sum of money,...
Promissory Note Meaning. A promissory note is a legal, financial tool declared by a party, promising another party to pay the debt on a particular day. It is a written agreement signed by drawer with a promise to pay the money on a specific date or whenever demanded.
What Is a Promissory Note? 1. Negotiable Promissory Note. 2. Non-Negotiable Promissory Note. How To Get a Promissory Note in 3 Easy Steps. 1. Prepare the document. 2. Print copies of the promissory note. 3. Go to the notary if you opt to have the document notarized. Frequently Asked Questions. 1. Should a promissory note be notarized? 2.
Jul 4, 2024 · The meaning of PROMISSORY NOTE is a written promise to pay at a fixed or determinable future time a sum of money to a specified individual or to bearer.
Apr 26, 2024 · Promissory notes may also be referred to as an IOU, a loan agreement, or just a note. It's a legal lending document that says the borrower promises to repay to the lender a certain amount of money in a certain time frame.
What is a Promissory Note? A Promissory Note is an unconditional promise in writing made by one person (the "maker") in favor of another (the "payee") that the maker will pay an amount of money at a specified date.
Jan 17, 2016 · A promissory note is a legal contract that binds the borrower by law. If the borrower fails to repay the money according to the terms of the note, the lender may file a civil lawsuit to obtain a judgment, and possibly take additional action, to get his money back.
