promissory note

Definition of "promissory note"
  1. A written agreement where one party promises to pay a specified amount of money, potentially with interest and penalties, to another party
How to use "promissory note" in a sentence
  1. The loan was formalized by a promissory note to ensure payback.
  2. The student needed a promissory note to secure her student loans.
  3. The company issued a promissory note to finance its new project.
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