promissory note

Definitions

Accounting

  • noun a document stating that someone promises to pay an amount of money on a specific date

Construction

  • A legal instrument, agreement or contract made between a lender and a borrower by which the lender conveys to the borrower a sum or other consideration known as principal for which the borrower promises repayment of the principal plus interest under conditions set forth in the agreement.

Economics

  • noun a document stating that someone promises to pay an amount of money on a certain date
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