promissory

(adjective)

Stipulating the future actions required of the parties to an insurance policy or other business agreement.

Related Terms

  • maker
  • payee
  • promissory note
  • debtor

Examples of promissory in the following topics:

  • Notes Payable

    • A promissory note is a negotiable instrument, where one party (the maker or issuer) makes, under specific terms, an unconditional promise in writing to pay a determined sum of money to the other (the payee), either at a fixed or determinable future time or on demand by the payee.
    • Demand promissory notes are notes that do not carry a specific maturity date, but are due on demand by the lender.
    • For loans between individuals, writing and signing a promissory note are often instrumental for tax and record keeping purposes .
    • Negotiable promissory notes are used extensively in combination with mortgages in the financing of real estate transactions.
    • A promissory note due in less than a year is reported under current liabilities.
  • Components of a Note

    • Notes Receivable represents claims for which formal instruments of credit are issued as evidence of debt, such as a promissory note.
    • Notes Receivable represents claims for which formal instruments of credit are issued as evidence of debt, such as a promissory note.
  • Types of Receivables

    • Notes receivable are amounts owed to the company by customers or others who have signed formal promissory notes in acknowledgment of their debts.
    • Promissory notes strengthen a company's legal claim against those who fail to pay as promised.
  • Valuing Notes Receivable

    • Notes Receivable represents claims for which formal instruments of credit are issued as evidence of debt, such as a promissory note.
  • Long-Term Debt

    • Money is borrowed, and usually the borrower (debtor) gives the lender (creditor) a promissory note that obligates the debtor to pay back a certain defined amount at a particular and defined time in the future .
    • A promissory note dating to 1926 from the Imperial Bank of India, Rangoon, Burma for 20,000 Rupees, plus interest.
  • Long-Term vs. Short-Term Financing

    • This is an unsecured promissory note with a fixed maturity of 1 to 364 days in the global money market.
  • Cash

    • A banknote (often known as a bill, paper money, or simply a note) is a type of negotiable instrument known as a promissory note, made by a bank, payable to the bearer on demand.
  • How Business Activities Affect the Balance Sheet

  • Commercial Paper

    • In the global money market, commercial paper is an unsecured promissory note with a fixed maturity of one to 364 days.
  • Pro Forma Balance Sheet

    • Financial liabilities (excluding provisions and accounts payable), such as promissory notes and corporate bonds
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