Security Transactions And Mortgages

Promissory Note

Learn about the definition for this legal term.

What is Promissory Note?

A note signed by the mortgagor in which the terms of the debt are specified and the debtor promises to pay. Mortgage Foreclosure actions are most often based on suit upon the promissory note.

Further Reading

For more detailed information, see our related Security Transactions And Mortgages terms:

Stephanie Bagnall

Reviewed by

Stephanie Bagnall

Licensed Attorney and Legal Researcher

Stephanie Bagnall is a Georgia-licensed attorney and legal researcher with experience in accessibility law, compliance, employment law, and legal writing. She helps develop and review BarPrepHero's Legal Terms content for clarity, accuracy, and usefulness to bar exam students.

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