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 ...

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 ...

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.