promissory note

noun

Definition of promissory note

: a written promise to pay at a fixed or determinable future time a sum of money to a specified individual or to bearer

Examples of promissory note in a Sentence

Recent Examples on the Web In the case of federal student loans, a borrower signs a promissory note agreeing to pay back the government and, ultimately, the taxpayers. Kate Padgett Walsh, Quartz, "The morality of canceling student debt," 3 Dec. 2020 The bank’s promissory note is for roughly $4.7 million. Madison Iszler, ExpressNews.com, "San Antonio shopping center owned by company tied to Nate Paul heading for foreclosure," 13 Oct. 2020 In 2015, Farias began circulating a private placement memorandum (PPM) that described the promissory note offering, which sought to raise $50 million. Patrick Danner, ExpressNews.com, "Retired S.A. police officers scammed in $14M fraud scheme, SEC alleges," 30 July 2020 Your bank would never lend you money without a promissory note. Dallas News, "Amateur hour: Loans to family members can be complicated," 7 June 2020 Some banks, potentially in an attempt at speeding things along, also gave their borrowers a promissory note before receiving SBA loan authorization number, Bay News 9 reported in early May. NBC News, "PPP loan program accidentally paid some small-business owners twice," 19 May 2020 The $105 million deal included cash, equity in ENA’s parent company and a promissory note. Patrick Danner, ExpressNews.com, "San Antonio businessman faces $100M lawsuit over alleged fraud," 14 May 2020 There was no word on what kind of promissory notes banks should be using. oregonlive, "Oregon small businesses face chaos, uncertainty as they seek federal coronavirus rescue loans," 12 Apr. 2020 The value of the promissory notes was roughly $1.8 billion, the SEC said, meaning the face value of total investor commitments to DC Solar was over $2.7 billion. Dave Michaels, WSJ, "Owners of Solar Company That Swindled Berkshire Hathaway Admit to Running Ponzi Scheme," 24 Jan. 2020

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'promissory note.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of promissory note

1710, in the meaning defined above

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Time Traveler for promissory note

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The first known use of promissory note was in 1710

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Cite this Entry

“Promissory note.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/promissory%20note. Accessed 28 Feb. 2021.

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More Definitions for promissory note

promissory note

noun

English Language Learners Definition of promissory note

business : a written promise to pay an amount of money before a particular date

promissory note

Legal Definition of promissory note

— see note

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Britannica.com: Encyclopedia article about promissory note

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