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 ?
Instead of immediately returning the money Sogo had forwarded, Cho-ompa issued a separate note payable to Sogo in 10 months.
No interest had been recorded on either the short-term or the long-term note payable. The short-term note is an 8% note that has been outstanding for 6 months, and 3 months' interest has accrued on the long-term note which bears interest at 10%.
In addition to Orinoco's assumption of Maritech's $47M asset retirement obligations, at the closings of the transactions, Tetra will keep the working capital of the businesses being sold and receive approximately $3M in cash for inventory and fuel, and a $7.5M promissory note payable on December 31, 2019.
Under the terms of the agreement, CT Energy, or one of its affiliates will pay Harvest USD80m, subject to certain adjustments, as well as a USD12m six-month 11% note payable, among other consideration.
The purchase price consists of USD27 million in cash, a promissory note payable by S&W to DuPont Pioneer in the initial principal amount of USD10 million, and a potential earn-out payment of up to USD5 million based on sales of products containing the acquired germplasm and Pioneer purchases under distribution and production agreements in the three-year period following the closing.
The purchase price adjustments were paid in cash at closing, and the base purchase price was satisfied by a promissory note payable in installments over 31 months.
The agreement provides US$ 50 million cash, approximately 7.1 million Harry Winston common shares with a value of approximately US$ 100 million, and a note payable in the amount of US$ 70 million.
The company will issue a total of 12,500,000 common shares priced at CAD0.02 to 151 Co, as well make a cash payment of CAD33,000 and issue a note payable for CAD50,000 as a consideration for the acquisition.
A, the owner of a herd of cattle, sells it to partnership BCD, which pays A $10,000 and executes a $30,000 note payable to A.
As part of the transaction, Air Canada will hold a CAD200m note payable by Aeroplan and Onex will hold a CAD52.5m note from Aeroplan.
On October 15, 1996, the parties converted these loans into a $77,481 note payable to Combrink and $175,000 of paid-in capital.
If a company converted a short-term note payable into a long-term note payable, this transaction would: