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 ?
In the request, the President explained that the promissory notes were meant for settlement of inherited local debts and contractual obligations on refund to state governments for projects executed on behalf of the Federal Government, adding that the federal lawmakers also reduced the number of beneficiary States from 25 to 21 despite the N890.537million added to the N487.852billion request.
When the man went to court to review the notice, he realised that his former wife had submitted a promissory note in which it was written that he owed her Dh175,000.
According to Lielvarde Region Council's report, former mayor Abolins, in violation of the law and regulations on borrowing by municipalities, unilaterally signed a EUR 200 million promissory note on behalf of the municipality in November 2015.
The unsecured promissory note bears interest at a rate of 10 percent per annum, payable quarterly commencing September 30, 2016, until its maturity date of August 11, 2021.
It was reported on Friday that Enhance Skin Products Inc (OTCBB: EHSK), a pioneer in Hyaluronic Acid research and development for deep hydration of the skin, has repaid a Vis Vires Promissory Note in the amount of USD33,344 on 23 March 2016.
The promissory note must bear the date, the exact amount of the payment and when the borrower is required to make payments to the lender.
Moreover, Wayland claims to have found an instance in which George had purchased another parcel of property from Interstate Landscaping for far below market price, and in that case a promissory note of $298,780 was also paid to Shirley rather than her company.
But the Cabinet is examining using the [euro]1billion saved from the promissory note agreement to lessen the blow on ordinary taxpayers.
On May 25, 2006, Arrow Properties (Arrow) executed a promissory note for $235,200 to Superior Bank in connection with a real estate loan.
New Delhi, July 13 -- With a 500 million euro promissory note benchmark transaction, Dr.
"They're exploring the possibility of an alternative to the promissory note being found, which would enable Ireland to have a less onerous method of repayment," Noonan said.
This was in consideration for the termination of a promissory note in favour of Novo Nordisk under which approximately USD9.1m was outstanding on 30 July 2010, representing an effective price per share of USD0.3505.