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Meaning of promissory note

prom'issory note'

Pronunciation: [key]
  1. a written promise to pay a specified sum of money to a designated person or to his or her order, or to the bearer of the note, at a fixed time or on demand.
  2. a written promise to do or provide something, usually presented as a gift and claimable when or however the recipient chooses.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.
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