A promissory note is a legal instrument in which one party (the maker or issuer)
promises in writing to pay a determinate sum of money to the other (the payee),
either at a fixed or determinable fut...
10. The amount of a promissory note is called the face value.
promissory note. n. a written promise by a person (variously called maker, obligor
, payor, promisor) to pay a specific amount of money (called "principal") to ...
The "amount" can take two forms... the principal, and the balance. The principal is
the amount of money that the loan or credit starts out as. For the ...
the person signing the note (called the maker) is agreeing that he will repay the ...
is addressed and who is ordered to pay the amount of money specified in the ...
is called the “Note Holder.” 2. INTEREST. Interest will be charged on unpaid
principal until the full amount of Principal has been paid. I will pay inter- est at a ...
A simple promissory note appears below. The face value of a note is called the
principal, which equals the initial amount of credit provided. The maker of a note
payment is promised is called the payee or holder. For example, if two ...
specifies collateral securing the amount loaned ... A promissory note may contain
other terms such as the right of the holder to order payment be made to another
The date that payment is due is called the note maturity date. ... When a
promissory note is created, the issuer specifies the amount due, the maturity date,
Co-signer or Co-borrower: A person who signs a promissory note that is also
signed by one or more other parties. ... Prepayment: Any amount that is paid on a
loan prior to the scheduled time ... Private loans are also called “alternative loans.