A promissory note is a mortgage document promising to pay back a lender under certain terms. The note includes information such as how much you're borrowing and the mortgage interest rate. The lender ...

Although it may appear on different types of documents, the term "payable on demand" almost always is associated with promissory notes. As the words imply, the term means a debt must be paid when the ...

Text Callout : Key Takeaways - What Is a Promissory Note? Whether you're borrowing money from a financial institution or someone you know, a promissory note serves as a formal lending document.