promissory note

American  

noun

1. a written promise to pay a specified sum of money to a designated person, or to the bearer of the note, at a fixed time or on demand.

2. a written promise to do or provide something, usually presented as a gift and claimable when or however the recipient chooses.

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promissory note British  

noun

1. Also called: note.   note of hand.  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

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Etymology

Origin of promissory note

First recorded in 1700–10

Example Sentences

Last week, 52% of the company was sold to media mogul Byron Allen for $120 million: $20 million in cash and the rest in the form of a promissory note due in five years.

From MarketWatch • May 20, 2026

Under what the lawsuit says was “immense pressure,” Kwatra signed a statement and a promissory note agreeing to repay the amount.

From The Wall Street Journal • Jan. 7, 2026

That includes a $1.1 billion promissory note that appears to be connected with liabilities DCG assumed from Genesis after it was hit hard by the collapse of Singapore-based crypto hedge fund Three Arrows Capital.

From Reuters • Jan. 12, 2023

All they needed to do was have their case manager submit a promissory note committing to pay the rent.

From Los Angeles Times • Dec. 13, 2022

But to train him for all eventualities, and make him familiar with all the by-ways of the business, he felled him to the ground with his promissory note, and forced him into bankruptcy.

From The Red Room by Strindberg, August