A claim against a debtor, evidenced by an unconditional written promise to pay a certain sum of mone
[n] - your right in a promissory note in which the maker promises to pay a certain amount of money at a certain time
noun your right in a promissory note in which the maker promises to pay a certain amount of money at a certain time
A debt due from borrowers and evidenced by a written promise of payment. Note receivable, an entry on the asset side of many corporate balance sheets, indicates the dollar amount of loans due to be repaid by borrowers.
A note receivable is a written promise to receive a specific amount of money at a designated future date or on demand of the holder. In other words, a note receivable is lender?s contract with the borrower. It entitles the lender to receive principle and interest payments from the borrower in the future.