Difference between revisions of "Promissory note"

Revision as of 14:09, October 17, 2007

Redirect to:

@@ Line 1: / Line 1: @@
-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."
+#REDIRECT [[Conservapedia:Deletedpage]]
-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 inlcude interest rate, frequency of payments, any penalties regarding late or early payments, and how the principle of the loan is amortized.
-[[category:accounting]]