| Dictionary, Encyclopedia and Thesaurus - The Free Dictionary 1,723,293,658 visitors served. |
|
Dictionary/ thesaurus | Medical dictionary | Legal dictionary | Financial dictionary | Acronyms | Idioms | Encyclopedia | Wikipedia encyclopedia | ? |
promissory note |
Also found in: Dictionary/thesaurus, Legal, Financial, Acronyms, Wikipedia, Hutchinson | 0.01 sec. |
|
promissory note, unconditional written promise to pay a certain sum of money at a definite time to bearer or to a specified person on his order. Promissory notes are generally used as evidence of debt. The holder of a note made payable to bearer may transfer his rights to another by delivery of the note. If the note is payable to order, it may be transferred by endorsement and delivery. promissory noteShort-term credit instrument consisting of a written promise by one person to pay a specified amount of money to another on demand or at a given future date. Promissory notes were in use in Europe as early as the Renaissance. They are often negotiable and may be secured by the pledge of collateral. The instrument changed substantially during the 20th century, when various clauses were added regarding payment and other provisions—for example, authorizing the sale of collateral, permitting extensions of time, and allowing acceleration of payment in the event of default. See also bill of exchange. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
|
| ? Mentioned in | ? References in classic literature | |
|---|---|---|
THE People being dissatisfied with a Democratic Legislature, which stole no more than they had, elected a Republican one, which not only stole all they had but exacted a promissory note for the balance due, secured by a mortgage upon their hope of death. Glegg her loan of five hundred pounds, it naturally occurred to him that he had a promissory note for three hundred pounds lent to his brother-in-law Moss; and if the said brother-in-law could manage to pay in the money within a given time, it would go far to lessen the fallacious air of inconvenience which Mr. No,' said Fledgeby; 'provided you have brought my promissory note in your pocket, and now hand it over. |
| Encyclopedia |
| Free Tools: |
For surfers:
Free toolbar & extensions |
Word of the Day |
Help
For webmasters: Free content | Linking | Lookup box | Double-click lookup | Partner with us |
|---|