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note payable

   Also found in: Legal, Financial, Encyclopedia, Wikipedia 0.01 sec.
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Noun1.note payable - a note promising to pay a certain amount of money at a certain time
note of hand, promissory note, note - a promise to pay a specified amount on demand or at a certain time; "I had to co-sign his note at the bank"


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A long-term note payable may be written in either an interest bearing or non-interest bearing form.
During fiscal 2007, we recognized $225,000 in income as a result of the forgiveness of a portion of the principal balance of a note payable to Elan Corporation, plc.
During fiscal 2007, we recognized $225,000 in income as a result of the forgiveness of a portion of the principal balance of a note payable to Elan Corporation, plc.
 
 
 
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