promissory note

noun
UK: /ˈprɒmɪsəri nəʊt/
US: /ˈprɑːmɪsɔːri noʊt/

  1. A written promise to pay a specific amount of money at a certain date in the future.

    1. I signed a promissory note for the car.
    2. The bank required a promissory note before granting the loan for the business.

  2. A financial instrument that contains a written promise by one party to pay another party a definite sum of money, either on demand or at a specified future date.

    1. The promissory note detailed the repayment terms clearly.
    2. He used a promissory note to secure the investment from his friend.

Synonyms

iou note of hand demand loan

Frequently Asked Questions

The word "promissory note" in English means: A written promise to pay a specific amount of money at a certain date in the future., A financial instrument that contains a written promise by one party to pay another party a definite sum of money, either on demand or at a specified future date..

The phonetic transcription of "promissory note" is /ˈprɒmɪsəri nəʊt/ in British English and /ˈprɑːmɪsɔːri noʊt/ in American English. Click the 🔊 button to hear both pronunciations.

Synonyms for "promissory note": iou, note of hand, demand loan.

Example usage of "promissory note": "I signed a promissory note for the car.". More examples on the page.