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promissory note

a written promise to pay a specified sum of money to a designated person or to his or her order, or to the bearer of the note, at a fixed time or on demand.
a written promise to do or provide something, usually presented as a gift and claimable when or however the recipient chooses.
1700-10 Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2015.
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Examples from the web for promissory note
  • One is the promissory note explaining the terms of the loan.
  • Draw up a promissory note and a repayment schedule with penalties.
  • Escrow process involving the funding of the loan or the pur chase of the promissory note.
  • Individual who signed and agreed to the terms in the promissory note and is responsible for repaying a loan.
British Dictionary definitions for promissory note

promissory note

(mainly US, commerce) a document, usually negotiable, containing a signed promise to pay a stated sum of money to a specified person at a designated date or on demand Also called note, note of hand
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition
© William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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