noun
Meaning 1
A document saying that someone owes a specific amount of money to someone else, often with the deadline and interest fees; the primary purposes of a promissory note are to evidence the debt obligation incurred, and to establish terms for payment thereof.
Definition source: English Wiktionary via Wiktextract
Topics: business, finance
Examples
- Near-synonym: IOU
Meaning relationships
Synonyms: note payable, IOU
Antonyms: none provided
Broader terms: negotiable instrument, instrument, note, document