15
edits
Changes
Jump to navigation
Jump to search
Line 1:
Line 1: − + − + − 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]]. − − − [[category:accounting]]
no edit summary
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."
A Promissory Note is like a Conservapedia article.
It is extremely biased, and SUCKS!