promissory note

American  

noun

promissory notes plural

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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Other Word Forms

Noun Inflected Forms

• promissory notes
  plural

Etymology

Origin of promissory note

First recorded in 1700–10

Example Sentences

Martin Luther King Jr. famously talked about the Constitution as a promissory note that reflected the aspirations of this nation, not necessarily who this nation was at a given moment.

From Slate • Jun. 17, 2026

The purchase will be funded with $20 million in cash at the deal’s closing and a $100 million promissory note due five years from that time.

From MarketWatch • May 11, 2026

The deal will be funded with $20 million in cash and a $100 million promissory note due five years from closing, which will accrue 5% in annual interest.

From The Wall Street Journal • May 11, 2026

Keough’s lawsuit, which was reviewed by The Times, said Naussany Investments presented a deed of trust for Graceland and a standard promissory note to the estate via the Los Angeles County Superior Court in September.

From Los Angeles Times • May 23, 2024

When a loan application has been acted upon favorably, a promissory note and chattel mortgage are taken.

From Readings in Money and Banking Selected and Adapted by Phillips, Chester Arthur