note payable

note payable definition - business

note payable

A debt owed to a lender and evidenced by a written promise of payment. Notes payable, an entry on the liabilities side of many corporate balance sheets, indicates that a certain dollar amount of loans will be repaid to the lender at a future time.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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