A promissory note, in its simplest form, is an instrument by which a Borrower (the Maker) acknowledges its obligation to repay the Lender (the Payee). Historically, Lenders required Borrowers to enter ...

Promissory notes play a critical role in financial transactions, serving as a written promise from a Borrower to pay a Lender a specified sum of money under agreed-upon terms. Understanding the ...