Promissory note
A promissory note, also known as a promissory note, is a written undertaking issued by one person to another person to ensure that he has made an unconditional payment of the amount determined to the particular person or his designated person on the agreed date or at the time of sight of the bill. Therefore, the promissory note is also called "Promissory note" (Promissory note). The difference between the promissory note and the IOUs is that the former promises certain payments, which only merely recognize the existence of the debt. In the modern financial system, the promissory note is an important credit tool, can endorsement transfer, which in circulation in the market, so in all countries have the relevant laws to regulate. The face of the promissory note generally includes the name of the payee, the unconditional payment of the commitment, the amount determined, the coupon rate (if any), the payment period (not specified period is paid at sight), the drawer signature. Bank notes issued by banks are called Cashier's cheque, and cashier's checks are generally payable at sight. As the banks generally have a more reliable financial guarantee, so the banker's order in practice equivalent to the use of cash. Warrants issued by industrial and commercial enterprises or individuals are sometimes referred to as general promissory notes or commercial promissory notes, with more types of credit than their banker's checks and poor liquidity. ...