A Promissory Note is a written, signed and dated two-party negotiable instrument containing an unconditional promise by the maker (or obligor, payor, promisor) to pay a definite sum of money to a payee (or promisee, holder) on demand or at a specified future date.
It is often used as a means to borrow funds or take out a loan. So it's basically a promise to pay a certain amount of money to someone, on demand, or at a specified time.
The only difference between a promissory note and a bill of exchange is that the maker of a note pays the payee personally, rather than ordering a third party to do so.
A Lord Denning judgement that says a bill of exchange once tendered has to be treated as cash... The principle is that a bill, cheque or note is given and taken in payment as so much cash, and not as merely given a right of action for the creditor to litigate a counter-claim (see Jackson v Murphy  4 T.L.R. 92). "We have repeatedly said in this court that a bill of exchange or a promissory note is to be treated as cash. It is to be honoured unless there is some good reason to the contrary"
(see per Lord Denning M.R. in Fielding & Platt Ltd v Selim Najjar  1 W.L.R. 357 at 361;  2 All E.R. 150 at 152, CA)
We have now improved the design and incorporated powerful sacred geometry, although the original is available below. Firstly download the background image and print it out on a high quality setting. It is a large image so may take a few seconds to appear when you open the file.
If you've upgraded your account, your name will automatically appear in the document in the correct format and in the correct place over the background image.
It is a large image so may take a few seconds to download and then to appear when you open the file. After making any necessary changes to the layout or text, print it out on a high quality setting.
Please note: the page orientation for both image and text must be changed from portrait to landscape in the text editor program if this doesn't happen automatically.Download Original Prom Note
If you've upgraded your account, your name will automatically appear in the document in the correct format and in the correct place over the background image. Don't forget to sign the note in the space on the line after your name.
Now download the covering letter, which you send along with your Promissory Note, or hand to the cashier, if paying in person. If you've upgraded your account, your details will automatically appear in the letter in the correct format.Covering Letter
Do share your experiences on the forum where any questions or queries may be posted, Promissory Note excerpt below.