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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),[1] subject to any terms and conditions specified within the document.[2]

  1. ^ Garner, Bryan A. (1987). A dictionary of modern legal usage. New York: Oxford Univ. Pr. p. 702. ISBN 9780195043778.
  2. ^ Aigler, Ralph W. (1928). "Conditions in Bills and Notes". Michigan Law Review. 26 (5): 471.

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