A. An unconditional written promise to pay.
Listen to pronunciationEditor's note -
This is the document that you sign when you borrow money and promise in writing to pay it back.
Legal Definition -
An unconditional promise, signed by the maker, to pay absolutely and in any event a certain sum of money either to, or to the order of, the bearer or a designated person. Black's Law Dictionary® Eighth Edition © 2004
Recent Usage -
ImaRx Therapeutics IPO Expected Next Week
NEW YORK (AP) - Biopharmaceutical ImaRx Therapeutics Inc. is expected to go public next week, selling 5 million common shares between $10 and $12 each. The company said it expects proceeds of about $49.6 million, or $57.3 million if the underwriters exercise their overallotment right to 750,000 additional shares. The calculations assume a public offering price at $11, halfway between the company's price range. ImaRx said it will use $16 million of the proceeds to pay off a $15 million promissory note plus interest. The remainder of the proceeds will be used to fund research and development of a range of products at various stages. Read more...