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

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

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

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

Two years before the close of his term, with a promissory note for thirty dollars, he bought the remainder of his time from his master, and at the age of nineteen began to study law.

From Encyclopaedia Britannica, 11th Edition, Volume 10, Slice 3 "Fenton, Edward" to "Finistere" by Various