Maker of the Note
Definition: The party that creates and signs a promissory note, thereby promising to pay the stated amount at maturity. Also called the borrower or issuer. The…
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The party that creates and signs a promissory note, thereby promising to pay the stated amount at maturity. Also called the borrower or issuer. The maker records Notes Payable on their balance sheet.
Related Subjects
Related
- DebtorThe maker is the debtor on the note
- Promissory NoteThe maker signs the promissory note
- Notes ReceivableThe maker’s promise creates a note receivable for the payee
- Dishonor a NoteWhen the maker fails to pay at maturity
Contrast
- Payee of the NoteThe maker owes; the payee is owed
External Links
- Promissory note — Wikipedia