Nolo's Plain-English Law Dictionary
Need Professional Help? Talk to a Lawyer
Enter Your Zip Code to Connect with a Lawyer Serving Your Area
Enter Your Zip Code to Connect with a Lawyer Serving Your Area
- Promissory Note
- A written promise by one party (called maker, obligor, payor, or promisor) to pay a specific amount of money (called principal) to another party (called payee, obligee, or promisee), which often includes a specified amount of interest on the unpaid principal amount and penalties for failure to pay according to its terms.
Find us on Facebook
Follow us on Twitter
Add us on Google+
Watch us on YouTube
Listen to us on iTunes