Promissory note

A 1926 promissory note from the Imperial Bank of India, Rangoon, Burma for 20,000 rupees plus interest

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.[1]

  1. ^ "PROMISSORY NOTE Definition & Legal Meaning". Black's Law Dictionary (2nd ed.). 19 October 2012. Archived from the original on 10 March 2023. Retrieved March 10, 2023.