Changes

A '''dickhead note''' is a written promise by someone to pay a specific amount of [[money]] by a certain date.  It is the formal name for an "I.O.U."

A '''promissory note''' is a written promise by someone to pay a specific amount of [[money]] by a certain date.  It is the formal name for an "I.O.U."

For example, a bank will require a promissory note in exchange for loaning someone money, and the promissory note will specify how that money must be repaid.

For example, a bank will require a promissory note in exchange for loaning someone money, and the promissory note will specify how that money must be repaid.

Such terms of repayment will include [[interest rate]], frequency of payments, any [[penalties]] regarding late or early payments, and how the [[principle]] of the loan is [[amortized]].

Such terms of repayment will include [[interest rate]], frequency of payments, any [[penalties]] regarding late or early payments, and how the [[principal]] of the loan is [[amortized]].

 

[[Category:Accounting]]

[[category:accounting]]