"Promissory Note" Essays and Research Papers

1 - 10 of 500

Promissory Note

Promissory Notes Section 4 - Promissory note[6] A “promissory note is an instrument in writing (not being a bank-note or a currency-note) containing an unconditional undertaking, signed by the maker, to pay a certain sum of money only to, or to the order of, a certain person, or to the bearer of the instrument.   A promissory note is a legal instrument (more particularly, a financial instrument), in which one party (the maker or issuer) promises in writing to pay a determinate sum of money to...

Premium Currency, Mortgage, Commercial paper 1305  Words | 6  Pages

Open Document

Discounting of Notes

– TRANSACTIONS INCLUDING NOTES Definition of Terms * Notes receivable – claims supported by formal promises to pay usually in the form of notes * Negotiable promissory notes – an unconditional promise in writing made by one person to another, signed by the maker, engaging to pay on demand or at a fixed determinable future time a sum certain in money or to bearer. * Dishonored notes – when promissory note matures and is not paid. This should be removed from the notes receivable account and transferred...

Premium Bond, Interest, Bearer instrument 1415  Words | 6  Pages

Open Document

Notes on the Law of Negotiable Instruments

in it Although negotiable instruments (eg bills, cheques, promissory notes, certain bearer debentures, bonds and share warrants) are categorised as commercial paper, not all commercial papers are negotiable instruments. Examples of commercial papers which are not negotiable instruments include bills of lading and share certificate Some negotiable instruments can be characterised as instruments of payment (eg bills, cheques and promissory notes) whereas others can be seen as instruments of investment...

Premium Securities, Money, Negotiable instrument 1455  Words | 6  Pages

Open Document

Da Boss

balance of $5M in a promissory note due to the Seller to be paid out in no more than 5 years. Anne will contribute $1.5M, Barry $0.5M. The partners have agreed to a 50/50 ownership split. The following terms will need to be negotiated and summarized in a term sheet: The structure of the $5M promissory note to Seller A Buy/Sell agreement between the partners An agreement that addresses the differential capital contributions and the ownership agreement. Promissory Note (See “Basic Considerations...

Premium Time, Legal documents, Finance 857  Words | 4  Pages

Open Document


instrument means a promissory note, bill of exchange or cheque payable either to order or to bearer, whether the word “order” or “ bearer” appear on the instrument or not.”   A negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand, or at a set time, with the payer named on the document. Examples of negotiable instruments include promissory notes, bills of exchange, and cheques. PROMISSORY NOTE    A promissory note may be a negotiable...

Premium Negotiable instrument, Promissory note, Commercial paper 468  Words | 3  Pages

Open Document

Form and Content

checks, promissory notes, and certificates of deposit. -Utilized in the sale of goods and services as well as financing businesses. The use of negotiable instruments has increased to such an extent that payments made with these instruments, checks in particular, are now many times greater than payments made with cash, which now is used primarily for smaller transactions. The utilization of checks has decreased due to the emergence of electronic transfers, while promissory notes have been...

Premium Bearer instrument, Money, Payment 661  Words | 3  Pages

Open Document

The Bank

during the whole time the two promissory notes were being conducted he was incapacitated through the use of liquor when he signed the note. When it comes to the plaintiff First state bank of Sinai, they stated that he signed a promissory note and sent a check for $900 to pay for interest on the note. History: This case first stated in 1981 on March 10, when Randy Hyland son of Mervin Hyland went into the bank and sat down with William Buck and executed two promissory notes. One for $6,800 and one for...

Premium Bond, Promissory note, Uniform Commercial Code 554  Words | 3  Pages

Open Document

Bills of Exchange

amount is payable after the expiry of certain period. Normally 2 to 3 days of grace are allowed 5. Signed by the drawer The bill must be signed by its maker. Without signature, it will not be a legal document. IMPORTANT NOTES REGARDING BILL OF EXCHANGE. 1. Bill of exchange is drawn by a creditor upon his debtor. 2. It is legal valid document. 3. It is also an evidence of debt. PARTIES TO THE BILL OF EXCHANGE Bill of exchange involves the following three parties: ...

Premium Money, Promissory note, Commercial paper 1270  Words | 6  Pages

Open Document

Intermedia Chapter 13 Summary

Most common: accounts payable, notes payable, commercial paper, income tax liability, dividends payable, and accrued liabilities. * Accounts Payable and Trade Notes Payable 1. Accounts payable are obligations to suppliers of merchandise or of services purchased on open account. * Most trade credit is offered on open account. * Only formal credit instrument is the invoice. * Short term, noninterest bearing, reported at face amounts. 2. Trade notes payable * Formally recognized...

Premium Generally Accepted Accounting Principles, Liability, Accounts receivable 913  Words | 4  Pages

Open Document


liable to him is conclusively presumed. This refers to- a) An incomplete and delivered instrument. b) An incomplete and undelivered instrument. c) A complete and undelivered instrument d) None of the above 8. Distinction/s of a promissory note with a bill of exchange. a) Contains an unconditional order to pay b) Involves three (3) parties c) The issuer is primary liable d) May be payable to bearer 9. The kind of signature operates as notice that the agent has but...

Premium Negotiable instrument law, Legal documents, Promissory note 1314  Words | 6  Pages

Open Document

Become a StudyMode Member

Sign Up - It's Free