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note payable


Definitions from WordNet

Noun note payable has 1 sense
  1. note payable - a note promising to pay a certain amount of money at a certain time
    --1 is a kind of
    note, promissory note, note of hand

Definitions from the Web

Note Payable

Definition: Note Payable refers to a written agreement or promissory note in which one party (the borrower) promises to pay a certain amount of money to another party (the lender) within a specified time period, usually with interest.

Part of Speech:

  • Noun


  1. An unconditional promise to pay a specific sum of money on demand or at a definite time.
  2. A liability in the form of a promissory note.



  1. Entrepreneurs often rely on note payable agreements to secure funding for their business ventures.
  2. When purchasing a house, individuals may enter into a note payable with a bank to finance the transaction.
  3. Companies frequently use note payable to obtain short-term credit for their operational needs.


  1. In the local community, note payable is commonly utilized among farmers to finance the purchase of agricultural equipment.
  2. Small businesses in the area rely on note payable to cover their immediate expenses while awaiting payment from clients.
  3. Local families often create note payable agreements to assist their children with college tuition costs.

Sample Sentences:

  • John borrowed $10,000 from his friend and signed a note payable, agreeing to repay the loan within one year.
  • The company issued a note payable to secure additional funds for expanding their production facilities.
  • The bank reviewed Sarah's credit history before approving her note payable for the purchase of a new car.

Related Products:

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