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

In addition, AT Umbrella, which owns the operating subsidiaries, issued $350 million of promissory notes to the same insiders concurrent with the IPO, effectively another payout to them.

From The Wall Street Journal

Both Gary and his partner in the project, David Gentile, were sued in 2022 by investors who held promissory notes on Qello.

From The Wall Street Journal

The company has held talks with those investors — mainly hedge funds — about selling them interest-bearing promissory notes that convert into company stock, but nothing has come of them yet.

From New York Times

While it involves trustees, they will typically let you invest in items such as promissory notes, tax lien certificates, real estate and precious metals.

From Encyclopedia.com

If you are approved, you will be asked to sign a promissory note that keeps your loan active for 10 years after graduation.

From Encyclopedia.com