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

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

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

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

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

From Reuters • Jan. 10, 2023

A promissory note issued by a bank or banking company, payable to bearer on demand. µ In the United States popularly called a bank bill.

From Webster's Unabridged Dictionary (2nd 100 Pages) by Webster, Noah