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(finance) A document saying that someone owes a specific amount of money to someone else, often with the deadline and interest fees; the primary purposes of a promissory note are to evidence the debt obligation incurred, and to establish terms for payment thereof.

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promissory note

After negotiating the terms, he issued a promissory note promising to pay the principal plus interest by the end of the year.

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After negotiating the terms, he issued a promissory note promising to pay the principal plus interest by the end of the year.

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