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Tags: payment instruments
Categories: Economics & Finance
A promissory note is a financial instrument that contains a written promise by one party (the note’s issuer or maker) to pay another party (the note’s payee) a definite sum of money, either on demand or at a specified future date. A promissory note typically contains all the terms pertaining to the indebtedness, such as the principal amount, interest rate, maturity date, date and place of issuance, and issuer’s signature. https://www.investopedia.com/terms/p/promissorynote.asp
Synonyms:
commercial paper
