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English definition of “promissory note”

promissory note

noun [C]     ( abbreviation P-note, or P note) FINANCE
a legal document that contains a promise to pay a stated amount of money to a stated person either on a fixed date or when the money is demanded: Steiner signed a promissory note pledging to repay Williams $35,000 by Dec. 29, 2013.
(Definition of promissory note noun from the Cambridge Business English Dictionary © Cambridge University Press)
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