promissory note

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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 Note


(in Russian, soto-veksel’), a written promise of payment bearing only one signature—that of the person owing the payment. In Russian, a simple bill of exchange (prostoi veksel’) is also called a promissory note to distinguish it from a transferable bill of exchange (perekhodnyi veksel’).

References in periodicals archive ?
A promissory note must include the following information according to Article 688 of Turkish Commercial Code: 1.
The Promissory Notes will be paid with the funds to be raised by the Company through the public issue of Debentures by it, and the structuring and distribution process will be conducted by the Underwriters on a firm commitment basis.
In order to have the function of the commercial credit instruments, the promissory note and the bill of exchange should always be payable at term, as any other redeemable debenture.
In reversing the appellate court's ruling, the Supreme Court ruled promissory notes issued by the Cooperative were "securities.
While this restatement is necessary to comply with generally accepted accounting principles, it will also improve Tri-S Security's income statement moving forward by reducing the non-cash interest expense related to the 10% convertible promissory notes," said Ronald Farrell, Chairman and CEO of Tri-S Security.
Before discussing the collection procedure for an outstanding debt arising from a promissory note, I would like to first provide a little information on the issues that should be taken into account at the time of receiving a promissory note from a Turkish company.
In addition to electronically signing the FAFSA, students will use the DOE PIN to sign federal loan promissory notes and forms that help students consolidate loans after graduation.
The principal and interest due on the promissory notes will be sufficient to pay the certificates' principal and 6.
In Oren, TC Memo 2002-172, the Tax Court held that a shareholder's loan to his S corporation, although evidenced by a promissory note, a cancelled check representing disbursement of the loan proceeds and subsequent interest payments, did not generate basis.
5 million short-term promissory notes will be canceled and converted into 400,000 shares of common stock at $2.
Subsequent to the conversion of the convertible promissory notes, the Emalfarb Trust owns 5,822,125 shares and the Francisco Trust owns 4,769,578 shares, representing 24.
If necessary, however, multiple promissory notes could be executed as plan assets increase.