Ads
related to: promissory note to follow documents meaning in accounting terms examplesrocketlawyer.com has been visited by 100K+ users in the past month
- Promissory Note
Define Loan Terms w/Our Promissory
Note w/Installment Payments Form!
- Loan Agreement
Lenders & Borrowers Define Terms
w/Our Loan Agreement. Free Trial!
- Bill of Sale
Sell Property & Protect Your Rights
w/Our Bill of Sale Form. Free Trial
- Non-Disclosure Agreement
Protect Confidential Information
w/Our Non-Disclosure Agreement!
- Business Formations
Protect Your Assets.
Make Your New Venture Official.
- Ask A Lawyer
Get Legal Advice in Minutes. Real
Lawyers. Real Answers. Right Now.
- Promissory Note
Search results
Results From The WOW.Com Content Network
A promissory note, sometimes referred to as a note payable, is a legal instrument (more particularly, a financing instrument and a debt instrument), in which one party (the maker or issuer) promises in writing to pay a determinate sum of money to the other (the payee), [1] subject to any terms and conditions specified within the document.
Promissory note Name The name of the bill or note in the text of the document, in the language in which the document has been issued Subject Unconditional order for the payment of the specified sum Unconditional assumption of obligation for the payment of the specified sum Drawee The name of the person obliged to pay (drawee) N/A Date
Notes receivable represents claims for which formal instruments of credit are issued as evidence of debt, such as a promissory note. The credit instrument normally requires the debtor to pay interest and extends for time periods of 30 days or longer.
The document evidencing the debt (e.g., a promissory note) will normally specify, among other things, the principal amount of money borrowed, the interest rate the lender is charging, and the date of repayment.
Accounts receivable represents money owed by entities to the firm on the sale of products or services on credit. In most business entities, accounts receivable is typically executed by generating an invoice and either mailing or electronically delivering it to the customer, who, in turn, must pay it within an established timeframe, called credit terms [citation needed] or payment terms.
In the United States, under the Uniform Commercial Code, a negotiable instrument (such as a check or promissory note) that is payable to the order of "bearer" or "cash" may be enforced (i.e. redeemed for payment) by the party in possession. The payee (i.e. the person named in the "pay to" line) may also convert an instrument into a bearer ...