Payee of the Note
Definition: The party to whom a promissory note is payable — the creditor or lender who will receive payment at maturity. The payee records Notes Receivable on…
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The party to whom a promissory note is payable — the creditor or lender who will receive payment at maturity. The payee records Notes Receivable on their balance sheet.
Related Subjects
Related
- Promissory NoteThe payee receives the promise of payment
- Notes ReceivableThe payee records the note as a receivable
Contrast
- Maker of the NoteThe payee is owed; the maker owes
- DebtorThe payee is the creditor, not the debtor
External Links
- Promissory note — Wikipedia