释义 |
promissory note An unconditional promise in writing, made by one person to another and signed by the maker, engaging to pay a specified sum of money to (or to the order of) a specified person or to the bearer, either on demand or at a fixed or determinable future time. Promissory notes are negotiable instruments and many of the provisions in the Bills of Exchange Act 1882 apply with necessary modifications to promissory notes. Promissory notes are not presented for acceptance and the party primarily liable is the maker of a note. A bank note is a promissory note issued by a bank; the sum of money mentioned on the note is payable to the bearer on demand. |