MLchartDataset catalogue

Promissory note

Term · Insurance and risk management · MLC-T-INS-002723

A written, unconditional promise by one party (the maker) to pay a specified sum of money to another party (the payee) on demand or at a definite future time. In insurance, it can serve as a formal agreement for a policyholder to pay premiums at a later date, often with interest. This legal instrument outlines the terms of repayment and the consequences of default.

Table 1. Record
IdentifierMLC-T-INS-002723
FieldInsurance and risk management
SubjectWorkers Compensation
Record as JSON 
{
  "id": "MLC-T-INS-002723",
  "term": "Promissory note",
  "field": "Insurance and risk management",
  "definition": "A written, unconditional promise by one party (the maker) to pay a specified sum of money to another party (the payee) on demand or at a definite future time. In insurance, it can serve as a formal agreement for a policyholder to pay premiums at a later date, often with interest. This legal instrument outlines the terms of repayment and the consequences of default.",
  "subject": "Workers Compensation",
  "url": "https://mlchart.com/terminology/insurance/promissory-note/"
}

Record 2,747 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.